According to sources familiar with the matter, Circle, the issuer of USD Coin, may go public in early 2024, Bloomberg reported on November 7 citing individuals who are knowledgeable about the situation.
The report states that Circle is currently in discussions with its advisors about the potential IPO, but no definite decision has been made yet.
Circle had previously entered into a $4.5 billion merger agreement with Concord Acquisition in July 2021, with the intention of going public.
However, the deal fell through. A spokesperson from Circle told Bloomberg that becoming a publicly listed company in the United States has always been a part of its strategic plan.
However, Circle has chosen not to disclose any further details, stating that they do not comment on rumors.
If an IPO does take place, it will be the first time that Circle offers shares to the public, as the company is currently privately owned.