Circle, the stablecoin issuer, is reportedly determined to go public, despite facing delays in the approval process for its initial public offering (IPO). In January, Circle announced that it had submitted a draft registration statement to the Securities and Exchange Commission (SEC) for its proposed IPO. Despite the lengthy wait since then, Circle’s CEO Jeremy Allaire remains committed to the idea of a stock market launch. Allaire acknowledges the challenging regulatory environment for digital assets in the US but believes that Circle can still thrive in the public markets. He states, “We think we can be a really interesting company in public markets… We’re in a strong financial position and have built a solid business, so we’re not currently seeking any funding.” Circle had previously planned to merge with special purpose acquisition company (SPAC) Concord Acquisition to become a publicly listed firm, but the merger was terminated in 2022. However, Allaire remains optimistic, suggesting that lawmakers may pass a significant stablecoin bill after the November elections, which would provide regulatory clarity for stablecoins and attract traditional financial firms to the crypto market. Allaire emphasizes that these firms would only work with regulated infrastructure, and Circle has positioned itself accordingly.
