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Circle: close to going public with the help of JPMorgan
By Davide Grammatica
USDC issuer Circle is getting closer to going public, in collaboration with JPMorgan Chase and Citi
Circle's IPO
Circle, the world’s second largest stablecoin issuer, is reportedly accelerating its plans to go public in collaboration with banking giants JPMorgan Chase and Citi.
Circle’s IPO (initial public offering) could take place as early as the end of April, according to Fortune, with shares potentially available to investors four weeks later.
The application for the IPO had already been submitted confidentially at the beginning of 2025, but the idea of taking this step goes back further. In fact, it was already being discussed in 2022, for a plan that was later abandoned due to pressure from the SEC, then under former president Gary Gensler and with a very tough approach to the sector.
They probably wanted to follow in the footsteps of Coinbase, listed on the Nasdaq stock exchange in 2021 with an initial valuation of around $86 billion.
Compared to Circle, strong demand from investors is expected, both for the market share obtained by USDC and for the regulatory compliance obtained by the issuer worldwide, potentially decisive in the evolution of the sector.
The leap in quality for USDC
USDC’s current market capitalization is approximately 60 billion, up 18% since last year. The listing aims to capitalize on this rise, reaffirming, in the words of CEO Jeremy Allaire, investor confidence and the transparency of the company.
The entire operation will then be functional to integrate itself as well as possible into the mechanisms of traditional finance. In hindsight, even Circle’s move from Boston to New York City in 2025, to One World Trade Center, revealed these intentions.
Obviously, President Trump‘s push for the sector did the rest, and under the new administration, Circle’s road could be all downhill. In addition, there are other crypto companies already in the queue to become “public”, such as Gemini, Kraken, eToro and Bullish.
