Circle, Issuer of $25B USDC Stablecoin, Files for IPO After Failed SPAC Deal
- Circle Internet Financial, issuer of USDC stablecoin, files for IPO
- Company filed confidential draft S-1 with SEC, number of shares and price not yet set
- USDC is 2nd largest stablecoin with $25B market cap, behind Tether's $95B
- Circle planned to go public via SPAC in 2021 but deal fell through
- Coinbase went public in April 2021, Circle IPO expected after SEC review