BREAKING: Stablecoin firm Circle to go public in $4.5B blank-check deal


Circle, a Goldman Sachs-backed fintech company focused on stablecoin development, has reportedly announced plans to go public.

The company said it would go public through a merger with an unnamed blank-check company in a deal that values at $4.5 billion, Reuters reported on Thursday.

Circle is the principal developer of USD Coin (USDC), the second-largest stablecoin after Tether (USDT). In late May, the company raised $440 million in private investment from an array of private equity and institutional and strategic investors.

Earlier this year, Circle co-founder and CEO Jeremy Allaire predicted that the company’s USDC is on track to surpass payments giant PayPal in terms of transacted dollar value.

This article is developing and will be updated.

Products You May Like

Articles You May Like

Traders anticipate ‘DeFi Summer 2.0’ after TVL and token prices rise
Is Bitcoin a religion? If not, it soon could be
Buterin’s $1B SHIB donation tricky to cash out, says fund manager
Amazon rumored to be accepting Bitcoin, MicoStrategy pledges to buy more BTC despite losses, Bitcoin struggles at $40K: Hodler’s Digest, July 25-31

Leave a Reply

Your email address will not be published. Required fields are marked *