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Circle Internet Financial to go public despite delays

Author: Content Editor
Circle Internet Financial Ltd, the second-largest stablecoin issuer, is still determined to go public despite facing challenges in its plans. CEO Jeremy Allaire expressed the company's commitment to the path of going public and believes they can be successful in public markets. Circle has attempted to go public before, including a failed attempt to merge with blank-check firm Concord Acquisition Corp in 2022. The company filed a draft registration for an initial public offering (IPO) earlier this year. Allaire confirmed that Circle is in a strong financial position and does not currently seek additional funding. The company has notable investors from Wall Street and the crypto industry. Circle has been expanding its staff in anticipation of regulatory framework and stablecoin legislation. Allaire expressed optimism that the stablecoin legislation may be passed after the November presidential elections. Circle's USDC stablecoin has a market capitalization of $34.4 billion, making it the second-largest stablecoin after Tether's USDT.

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