USDC Stablecoin背後的公司Circle已申請首次公開募股，併計劃在紐約證券交易所上市

USDC Stablecoin背後的公司Circle已申請首次公開募股，併計劃在紐約證券交易所上市

Circle, the company best known for issuing the USD Coin (USDC) stablecoin, has filed for an initial public offering and plans to list on the New York Stock Exchange.

Circle是該公司以發行美元硬幣（USDC）Stablecoin的聞名，已申請首次公開募股，併計劃在紐約證券交易所上市。

The prospectus, filed with the SEC on Tuesday, lays the groundwork for Circle's long-anticipated entry into the public markets. It will trade under ticker symbol CRCL.

該招股說明書於週二向美國證券交易委員會（SEC）提交，為圓圈期待已期待的公共市場奠定了基礎。它將在股票符號CRCL下進行交易。

JPMorgan Chase and Citigroup are serving as lead underwriters and the company is reportedly aiming for a valuation of up to $5 billion.

摩根大通（JPMorgan Chase）和花旗集團（Citigroup）擔任首席承銷商，據報導，該公司的目標是高達50億美元。

It marks Circle's second attempt at going public. A prior merger with a special purpose acquisition company, or SPAC, collapsed in late 2022 amid regulatory challenges. Since then, Circle has made strategic moves to position itself closer to the heart of global finance, including announcing last year that it would be relocating its headquarters from Boston to One World Trade Center in New York.

它標誌著Circle第二次公開嘗試。在2022年底，在監管挑戰的情況下，與特殊目的的收購公司（SPAC）合併了。從那時起，Circle採取了戰略措施，使自己更接近全球金融的核心，包括去年宣布將其總部從波士頓搬到紐約的一個世界貿易中心。

The company reported revenue and reserve income of $1.68 billion in 2024, up from $1.45 billion in 2023 and $772 million in 2022. It also reported net income last year of about $156 million, down from $268 million a year earlier.

該公司報告說，2024年的收入和儲備收入為16.8億美元，高於2023年的14.5億美元和2022年的7.72億美元。去年還報告了淨收入約1.56億美元，低於一年前的2.68億美元。

A successful IPO would make Circle one of the most prominent pure-play crypto companies to list on a U.S. exchange. Coinbase went public through a direct listing in 2021 and has a market cap of about $44 billion.

成功的IPO將使Circle成為在美國交易所上列出的最傑出的純淨加密公司之一。 Coinbase在2021年通過直接上市公開，市值約為440億美元。

Circle will be trying to hit the public markets at a volatile moment for tech stocks, with the Nasdaq having just wrapped up its steepest quarterly drop since 2022. The tech IPO market has also been mostly dry for over three years, though there are signs of life. Online lender Klarna, digital health company Hinge Health and ticketing marketplace StubHub have all filed their prospectuses recently.

Circle將試圖在技術股票的動盪時刻上市，納斯達克剛剛結束了自2022年以來最陡峭的季度下降。儘管有生活跡象，但技術IPO市場在三年中也大多是乾燥的三年。在線貸方克拉納（Klarna），數字保健公司Hinge Health和票務市場StubHub最近都提交了招股說明書。

Late last week, artificial intelligence infrastructure provider CoreWeave held the biggest IPO for a U.S. venture-backed tech company since 2021. But the company scaled back the offering and the stock had a disappointing first two days of trading before rebounding on Tuesday.

上週下旬，人工智能基礎設施提供商Coreweave自2021年以來一直是美國風險投資支持的科技公司的最大IPO。但是該公司縮減了產品的擴大，該股票的交易前兩天令人失望，然後在周二進行籃板。

Circle is best known as the issuer of USD Coin, the world's second-largest stablecoin by market capitalization.

Circle最著名的是USD硬幣的發行人，USD硬幣是按市值按市值劃分的世界第二大穩定幣。

Pegged one-to-one to the U.S. dollar and backed by cash and short-term Treasury securities, USDC has roughly $60 billion in circulation and makes up about 26% of the total market cap for stablecoins, trailing Tether's 67% dominance. Its market cap has also grown 36% this year, compared with Tether's 5% growth.

USDC以現金和短期美國國庫券為一對一，並在現金和短期國庫券的支持下，大約有600億美元的發行量，約佔Stablecoins總市值的26％，佔了Tether的67％的統治地位。與Tether的5％增長相比，今年的市值也增長了36％。

The company's push into public markets also reflects a broader moment for the crypto industry, which is enjoying political favor under a more crypto-friendly U.S. administration. The stablecoin sector specifically has been ramping up as the industry gains confidence that the crypto market will get its first piece of U.S. legislation passed and implemented this year, focusing on stablecoins. President Donald Trump has said he hopes lawmakers will send stablecoin legislation to his desk before Congress's August recess.

該公司進入公共市場的推動也反映了加密貨幣行業的更廣泛時刻，加密貨幣行業在美國更友好的美國政府中享有政治恩寵。隨著行業對加密貨幣市場的信心將在今年通過並實施，重點關注Stablecoins，該行業獲得了美國的第一條立法，因此該行業的專門一直在加劇。唐納德·特朗普總統表示，他希望立法者將在國會八月的休會前將Stablecoin立法送往他的桌子。

Stablecoins' growth could have investment implications for crypto exchanges like Robinhood and Coinbase as they become a bigger part of crypto trading and cross-border transfers. Coinbase also has an agreement with Circle to share 50% of the revenue of its USDC stablecoin, and Coinbase CEO Brian Armstrong said on the company's most recent earnings call that it has a "stretch goal to make USDC the number 1 stablecoin."

Stablecoins的增長可能會對像Robinhood和Coinbase這樣的加密交易所產生投資影響，因為它們成為加密交易和跨境轉移的更大一部分。 Coinbase還與Circle達成了一項協議，分享了其USDC Stablecoin收入的50％，Coinbase首席執行官Brian Armstrong在該公司最近的收益呼籲中表示，它具有“使USDC成為USDC 1號Stablecoin的伸展目標”。

The stablecoin market has grown about 11% so far this year and about 47% in the past year, and has become a "systemically important" part of the crypto market, according to Bernstein. Digital assets in this sector are historically used for trading and as collateral in decentralized finance, or DeFi, and crypto investors watch them closely for evidence of demand, liquidity and activity in the market.

根據伯恩斯坦的說法，今年迄今為止，Stablecoin市場已增長約11％，在過去的一年中約為47％，並已成為加密貨幣市場的“系統上重要”的一部分。該領域的數字資產歷史上用於交易，並作為分散的金融或DEFI的抵押品，而加密投資者則密切關注它們，以證明市場上需求，流動性和活動的證據。