Circle, the company behind the popular stablecoin USDC, is still planning to go public, even though the process is taking longer than expected.
A Long Road to IPO
Back in January, Circle filed paperwork with the Securities and Exchange Commission (SEC) to start the process of going public. But nine months later, the company is still waiting for approval.
CEO Remains Optimistic
Despite the delays, Circle CEO Jeremy Allaire says they are “very committed” to becoming a publicly traded company. He believes Circle would be a “really interesting” addition to the stock market.
Allaire is confident that Circle will be successful, even with the current regulatory challenges facing the crypto industry. He points out that Circle is in a strong financial position and isn’t looking for more funding.
Stablecoin Bill Could Be a Game Changer
Circle’s path to going public was originally going to be through a merger with a SPAC, but that deal fell through last year. Allaire believes that a new stablecoin bill, which could be passed after the November elections, could open up the crypto market to more traditional financial institutions. He believes this would be good for Circle, as they are already positioned to work with regulated businesses.
