USDC背後的公司Circle正在另一次嘗試公開的嘗試

在與Concord Accerition Corp在2022年12月失敗的SPAC交易之後，Circle正在採用直接IPO路線

Circle, the company behind the widely used USD Coin (USDC) stablecoin, is reportedly making another attempt to go public, this time aiming for a valuation between $4 billion and $5 billion, according to two people familiar with the matter.

據兩名熟悉此事的人說，這是廣泛使用美元硬幣（USDC）Stablecoin背後的公司，據報導是另一種試圖公開的嘗試，這次是針對40億至50億美元的估值。

The firm is planning to take the direct IPO route, enlisting the services of financial giants JPMorgan Chase and Citi to act as underwriters for the offering, the people said. The company is expected to file for the IPO by late April 2025, merging its Class A common stock units with the Class A common stock, to be listed on a major U.S. stock exchange.

人民說，該公司正計劃採用直接IPO路線，邀請金融巨頭摩根大通和花旗的服務作為發行的承銷商。預計該公司將在2025年4月下旬之前提交IPO，並將其A類普通股單位與A類普通股合併，並將在美國主要證券交易所上市。

Earlier in 2021, Circle had set its sights on public markets through a merger with Concord Acquisition Corp, a special-purpose acquisition company (SPAC). The deal was initially pegged at a $9 billion valuation, later reduced to $4.5 billion due to market conditions and regulatory hurdles. Ultimately, Circle abandoned the SPAC deal in December 2022.

2021年早些時候，Circle通過與特殊用途收購公司（SPAC）的Concord Acquisition Corp合併將目光投向了公共市場。該交易最初的估值為90億美元，後來由於市場狀況和監管障礙而降至45億美元。最終，Circle在2022年12月放棄了SPAC交易。

Despite the setbacks, Circle appears to be approaching the IPO with renewed optimism and a pragmatic strategy. The company is now based in New York City, having moved from Boston, which could help it gain favor with traditional investors.

儘管遇到了挫折，但Circle似乎以新的樂觀和務實的策略正在接近IPO。該公司現在總部位於紐約市，從波士頓搬到了紐約市，這可以幫助它吸引傳統投資者的青睞。

Moreover, Circle's role as the issuer of USDC, the second-largest stablecoin with a market cap of around $60 billion, makes it a dominant force in the crypto ecosystem. USDC is used widely for payments, remittances, and decentralized finance (DeFi), rendering it a key pillar of digital finance.

此外，Circle作為USDC的發行人的角色，USDC是第二大穩定幣，市值約為600億美元，使其成為加密生態系統中的主要力量。 USDC廣泛用於付款，匯款和分散的金融（DEFI），使其成為數字融資的關鍵支柱。

With apex US regulatory bodies like the U.S. Securities and

與Apex US的監管機構，例如美國證券和

Circle is planning to go public again, aiming for a valuation of $4 billion to $5 billion and enlisting JPMorgan and Citi to help with the offering, two people familiar with the matter said.

兩名熟悉此事的人說，Circle計劃再次公開公開，以40億美元至50億美元的估值，並邀請JPMorgan和Citi幫助提供產品。

The company, which is best known for its USD Coin (USDC) stablecoin, is planning to take the direct IPO route, in contrast to its previous attempt via a SPAC merger. It will be applying to list the Class A common stock units of the company, merging them with the Class A common stock, to be listed on a major U.S. stock exchange. The filing for the IPO is expected by late April 2025.

該公司以其美元硬幣（USDC）Stablecoin而聞名，該公司正計劃採用直接IPO路線，與以前通過SPAC合併的嘗試相比。它將申請列出公司的A類普通股單位，並將其與A類普通股合併，並將其列入美國主要證券交易所。預計將在2025年4月下旬提交IPO。

Earlier in 2021, Circle had set its sights on public markets through a merger with Concord Acquisition Corp (CIII.N), a special-purpose acquisition company (SPAC). The deal was initially pegged at a $9 billion valuation, later reduced to $4.5 billion due to market conditions and regulatory hurdles. Ultimately, Circle abandoned the SPAC deal in December 2022.

2021年早些時候，Circle通過與特殊用途收購公司（SPAC）的Concord Accorition Corp（CIII.N）合併將目光投向了公眾市場。該交易最初的估值為90億美元，後來由於市場狀況和監管障礙而降至45億美元。最終，Circle在2022年12月放棄了SPAC交易。

However, despite the setbacks, Circle appears to be approaching the IPO with renewed optimism and a pragmatic strategy. The company has since moved its headquarters from Boston to New York City, which could be a crucial factor in securing the support of traditional investors.

但是，儘管遇到了挫折，但Circle似乎以新的樂觀和務實的策略正在接近IPO。此後，該公司將其總部從波士頓轉移到紐約市，這可能是確保傳統投資者支持的關鍵因素。

Moreover, Circle's role as the issuer of USDC, the second-largest stablecoin with a market cap of around $60 billion, makes it a dominant force in the crypto ecosystem. USDC is used widely for payments, remittances, and decentralized finance (DeFi), rendering it a key pillar of digital finance.

此外，Circle作為USDC的發行人的角色，USDC是第二大穩定幣，市值約為600億美元，使其成為加密生態系統中的主要力量。 USDC廣泛用於付款，匯款和分散的金融（DEFI），使其成為數字融資的關鍵支柱。

However, the company will be faced with a changed market landscape. When Coinbase (COIN.O) went public in 2021, it was valued at a staggering $86 billion at the peak of the bull market. In comparison, Circle's valuation at the time of its SPAC deal was $4.5 billion, later lowered to $3.2 billion.

但是，該公司將面臨變化的市場格局。當Coinbase（Coin.o）在2021年上市時，在牛市高峰期，它的價值驚人的860億美元。相比之下，Circle在SPAC交易時的估值為45億美元，後來降至32億美元。

Furthermore, the climate of regulation has shifted significantly. With the U.S. Securities and Exchange Commission (SEC) now keeping a closer eye on crypto, especially stablecoins, Circle's ability to comply with regulations could be make or break for its IPO. The SEC's unpredictable stance on crypto-related securities also poses a major risk factor.

此外，調節氣候已經發生了重大變化。隨著美國證券交易委員會（SEC）（SEC）現在密切關注加密貨幣，尤其是Stablecoins，Circle遵守法規的能力可能是其IPO的製定或破壞。 SEC對加密相關證券的不可預測的立場也構成了主要的風險因素。

If successful, Circle's IPO could provide the company with substantial capital to expand operations, develop new products, and cement its position as a leader in digital assets. A strong market debut would also serve as a confidence boost for the broader crypto industry, potentially encouraging other blockchain-focused firms to go public.

如果成功的話，Circle的IPO可以為該公司提供大量資本，以擴大運營，開發新產品並鞏固其作為數字資產領導者的地位。強大的市場首次亮相也將對更廣泛的加密行業的信心提高，這可能會鼓勵其他以區塊鍊為重點的公司公開。

However, failure could deal another blow to investor sentiment, reinforcing the belief that crypto companies face insurmountable regulatory and market challenges. The coming months will reveal whether Circle can pull off one of the most anticipated IPOs in the digital asset space or if history will repeat itself.

但是，失敗可能會對投資者的情緒造成另一項打擊，這加劇了信念，即加密公司面臨無法克服的監管和市場挑戰。接下來的幾個月將揭示Circle是否可以在數字資產空間中取消最令人期待的IPO之一，或者歷史記錄是否會重演。