圓圈以披露2024年1月之後的IPO計劃

USDC Stablecoin的發行人Circle正在以其長期計劃的首次公開募股（IPO）前進。計劃中的公眾

Circle, the issuer of the USDC stablecoin, is moving forward with its long-planned initial public offering (IPO), according to a new report by Fortune.

根據《財富》的新報告，USDC Stablecoin的發行人Circle正在以其長期計劃的首次公開募股（IPO）前進。

The company is planning to file the necessary documents for the IPO with the Securities and Exchange Commission (SEC) later in April, the report noted, adding that JPMorgan and Citi will be acting as underwriters for the offering.

該報告指出，該公司計劃在4月下旬向美國證券交易委員會（SEC）提交IPO的必要文件。

The new filing comes after Circle’s previous attempts to go public were scuttled. The company had previously planned to go public through a SPAC merger in 2021, but that deal was later terminated due to problems getting regulatory approval for the offering.

新文件是在Circle先前企圖公開嘗試的情況下進行的。該公司此前曾計劃在2021年通過SPAC合併公開公開，但由於獲得監管部門的批准問題，該交易後來被終止。

After January 2024 Filing, Circle to Disclose IPO Plans

2024年1月之後，圈子披露IPO計劃

As reported by Fortune, Circle had already filed confidentially for a traditional IPO back in January 2024, which it kept undisclosed in accordance with SEC regulations. The company is now planning to disclose the filing, which will include details of Circle’s financial performance.

正如《財富》報導的那樣，Circle早在2024年1月就已經秘密地為傳統的IPO申請，並根據SEC法規保持了未披露的狀態。該公司現在正計劃披露該文件，其中包括Circle財務績效的詳細信息。

The report noted that a substantial portion of Circle’s revenue is derived from interest on the USDC reserve backing. According to the latest statistics from 2023, an overwhelming 99% of Circle’s total earnings, amounting to $680 million, stemmed from its reserve-backed operations. However, this dependency raises concerns about the sustainability of Circle’s business model in the long term.

該報告指出，Circle收入的很大一部分來自USDC儲備金的利息。根據2023年的最新統計數據，Circle總收入的99％的壓倒性為6.8億美元，源於其後備支持的業務。但是，從長遠來看，這種依賴性引起了人們對Circle業務模式的可持續性的擔憂。

Despite earlier challenges in the year, Circle is pressing ahead with the listing of its shares. The upcoming IPO is set to value Circle at between $4 billion and $5 billion. These figures take into account the current market conditions, which are less favorable than the peak valuation of $9 billion that Circle reached in 2022.

儘管今年較早面臨挑戰，但Circle仍在努力列出其股票。即將到來的IPO將其重視在40億至50億美元之間。這些數字考慮到當前的市場狀況，這比Circle在2022年達到的90億美元的峰值估值不那麼好。

The launch of the IPO also coincides with a period of improving performance by the IPO market after a bleak showing in the first quarter. According to Dealogic data, public listing activity within the U.S. has increased by 70% since the start of 2024, achieving a total deal value of $11.8 billion.

IPO的推出還與第一季度慘淡的IPO市場提高了IPO市場的績效時期相吻合。根據Dealogic數據，自2024年初以來，美國境內的公共上市活動增長了70％，總交易價值為118億美元。

The organization has also experienced major corporate developments throughout multiple years. Founded in 2013 through the partnership of Jeremy Allaire and Sean Neville, the company initially pursued various business directions before settling on stablecoins in 2018.

該組織在多年來還經歷了主要的公司發展。該公司於2013年通過傑里米·阿萊爾（Jeremy Allaire）和肖恩·內維爾（Sean Neville）的合作夥伴關係，最初追求各種業務方向，然後在2018年定居Stablecoins。

USDC is the primary product of Circle, originally launching through the Centre consortium with Coinbase membership. The operations of USDC were later transferred to Circle following the dissolution of Centre in 2023, although Coinbase continues to hold a revenue-sharing agreement for the stablecoin.

USDC是Circle的主要產品，最初是通過Coinbase成員資格通過中心財團推出的。在2023年中心解散後，後來將USDC的運營轉移到了Circle，儘管Coinbase繼續為Stablecoin持有收入共享協議。

The enterprise is a significant player in the cryptocurrency sector, especially for decentralized finance and crypto trading purposes. The value of stablecoins soared beyond $50 billion during 2022, a stark contrast to 2020 when their collective market capitalization reached only $1 billion.

該企業是加密貨幣領域的重要參與者，尤其是用於分散的金融和加密交易目的。在2022年，穩定幣的價值飆升了500億美元以上，與2020年的集體市值僅達到10億美元時，這是一個鮮明的對比。

USDC generates revenue for the company through investments of its reserve funds in the U.S. Treasury market and other short-term, high-grade credit instruments, according to a previous report by Coinbase. This strategy enables Treasuries to profit regularly in liquid trades, especially during periods of market stress. During Q4 of 2024, Coinbase earned $225.9 million from USDC stablecoin growth due to its relationship with the asset.

根據Coinbase的先前報告，USDC通過其在美國財政市場和其他短期高級信用工具的儲備基金的投資為公司創造收入。該策略使國債能夠定期在流動交易中獲利，尤其是在市場壓力期間。在2024年第四季度，Coinbase由於與資產的關係而從USDC Stablecoin增長中獲得了2.259億美元。

The public offering of Circle plans to set new records across crypto markets thanks to its 2021 public listing as Coinbase. The company’s plans to list on the market match recent governmental actions that promote stablecoin policies. The House will soon vote on a new stablecoin bill after the U.S. Senate Banking Committee gave initial approval in March. Former President Trump expressed support for stablecoin rules that create good conditions for businesses such as Circle.

Circle的公開募股計劃歸功於Coinbase的2021年公開列表，計劃在加密貨幣市場上設定新的記錄。該公司在市場上列出的計劃與最近促進Stablecoin政策的政府行動相匹配。在美國參議院銀行委員會在三月份獲得初步批准之後，眾議院將很快就新的Stablecoin法案進行投票。特朗普前總統表示支持穩定規則，這些規則為諸如圈子等企業創造了良好的條件。

The upcoming IPO of Circle represents a significant time for cryptocurrency businesses. The initial public offering will provide users with essential information about how strong and reliable stablecoin companies are in the long run.

即將到來的Circle IPO代表了加密貨幣業務的重要時間。首次公開募股將為用戶提供有關長期強大和可靠的Stablecoin公司的重要信息。