USDC背后的公司Circle正在另一次尝试公开的尝试

在与Concord Accerition Corp在2022年12月失败的SPAC交易之后，Circle正在采用直接IPO路线

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.

据两名熟悉此事的人说，这是广泛使用美元硬币（USDC）Stablecoin背后的公司，据报道是另一种试图公开的尝试，这次是针对40亿至50亿美元的估值。

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.

人民说，该公司正计划采用直接IPO路线，邀请金融巨头摩根大通和花旗的服务作为发行的承销商。预计该公司将在2025年4月下旬之前提交IPO，并将其A类普通股单位与A类普通股合并，并将在美国主要证券交易所上市。

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年早些时候，Circle通过与特殊用途收购公司（SPAC）的Concord Acquisition Corp合并将目光投向了公共市场。该交易最初的估值为90亿美元，后来由于市场状况和监管障碍而降至45亿美元。最终，Circle在2022年12月放弃了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.

尽管遇到了挫折，但Circle似乎以新的乐观和务实的策略正在接近IPO。该公司现在总部位于纽约市，从波士顿搬到了纽约市，这可以帮助它吸引传统投资者的青睐。

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作为USDC的发行人的角色，USDC是第二大稳定币，市值约为600亿美元，使其成为加密生态系统中的主要力量。 USDC广泛用于付款，汇款和分散的金融（DEFI），使其成为数字融资的关键支柱。

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

与Apex US的监管机构，例如美国证券和

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.

两名熟悉此事的人说，Circle计划再次公开公开，以40亿美元至50亿美元的估值，并邀请JPMorgan和Citi帮助提供产品。

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.

该公司以其美元硬币（USDC）Stablecoin而闻名，该公司正计划采用直接IPO路线，与以前通过SPAC合并的尝试相比。它将申请列出公司的A类普通股单位，并将其与A类普通股合并，并将其列入美国主要证券交易所。预计将在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年早些时候，Circle通过与特殊用途收购公司（SPAC）的Concord Accorition Corp（CIII.N）合并将目光投向了公众市场。该交易最初的估值为90亿美元，后来由于市场状况和监管障碍而降至45亿美元。最终，Circle在2022年12月放弃了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，尽管遇到了挫折，但Circle似乎以新的乐观和务实的策略正在接近IPO。此后，该公司将其总部从波士顿转移到纽约市，这可能是确保传统投资者支持的关键因素。

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作为USDC的发行人的角色，USDC是第二大稳定币，市值约为600亿美元，使其成为加密生态系统中的主要力量。 USDC广泛用于付款，汇款和分散的金融（DEFI），使其成为数字融资的关键支柱。

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，该公司将面临变化的市场格局。当Coinbase（Coin.o）在2021年上市时，在牛市高峰期，它的价值惊人的860亿美元。相比之下，Circle在SPAC交易时的估值为45亿美元，后来降至32亿美元。

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，调节气候已经发生了重大变化。随着美国证券交易委员会（SEC）（SEC）现在密切关注加密货币，尤其是Stablecoins，Circle遵守法规的能力可能是其IPO的制定或破坏。 SEC对加密相关证券的不可预测的立场也构成了主要的风险因素。

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.

如果成功的话，Circle的IPO可以为该公司提供大量资本，以扩大运营，开发新产品并巩固其作为数字资产领导者的地位。强大的市场首次亮相也将对更广泛的加密行业的信心提高，这可能会鼓励其他以区块链为重点的公司公开。

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，失败可能会对投资者的情绪造成另一项打击，这加剧了信念，即加密公司面临无法克服的监管和市场挑战。接下来的几个月将揭示Circle是否可以在数字资产空间中取消最令人期待的IPO之一，或者历史记录是否会重演。