Circle Files for IPO Amid Profitability Concerns as Stablecoin Market Thrives

Circle Internet Financial, the issuer of USD Coin (USDC), has submitted an initial public offering (IPO) prospectus to the Securities and Exchange Commission (SEC). This move comes amid analyst concerns about the company’s profitability. The firm aims for stock trading on the New York Stock Exchange under the symbol “CRCL.” Circle has been exploring a public listing since 2021, attempting a Special Purpose Acquisition Company (SPAC) merger that failed due to SEC delays. A subsequent draft registration for an IPO was initiated in January of last year, which is now being finalized after facing regulatory hurdles under former Chair Gary Gensler’s administration.