Breaking: USDC Stablecoin Issuer Circle is Going Public at $4.5 Billion Valuation

Published by
Breaking: USDC Stablecoin Issuer Circle is Going Public at $4.5 Billion Valuation

Circle, the blockchain firm behind the USDC stablecoin is all set to go public on Nasdaq via a SPAC merger. The blockchain firm will merge with Special Purpose Acquisition Company Concord Acquisition Corp (NYSE: CND).

The merger deal would see an Irish company acquire both Concord and Circle and list publically on Nasdaq under the ticker symbol ‘CRCL’. The merger deal puts Circle’s valuation at $4.5 billion at the time of Nasdaq listing.

Circle first revealed its plans of going public in May this year and raised $440 million last month, making it one of the bigger funding rounds in crypto history.

Jeremy Allaire, Circle’s co-founder, and CEO will remain the CEO of the upcoming public company while Concord chairman Bob Diamond would join the board. The transaction is expected to finalize by the final quarter of 2021.

Allaire commented on their public debut and SPAC merger deal and said,

“We are taking an even bigger step forward, with the capital and relationships needed to build a global-scale internet financial services company that can help businesses everywhere to connect into a more open, inclusive, and effective global economic system. We are thrilled to partner with Concord’s executive and investment team, drawing on their decades of operating experience growing financial services businesses around the world.”

The USDC stablecoin issued by Circle has become the fastest-growing stablecoin at $25 billion in circulation. USDC has grown over 3,400% in 2021 alone facilitating $785 billion in crypto transactions.

Advertisement

Finer Details of the SPAC Deal

  • Upon completion of the deal, existing Circle shareholders would hold 86% of the publically traded company.
  • The investors have also committed $415 million in PIPE financing which saw participation from. Marshall Wace LLP, Fidelity Management & Research Company LLC, Adage Capital Management LP, accounts advised by ARK Investment Management LLC.
  • The PIPE funding deal was set at $10.0 per share.
  • The PIPE financing amount along with the latest funding round and existing cash in the trust would give Circle $1.1 billion in total capital at hand.

 

 

Advertisement
Share
Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Pi Coin Gains Another 15% As Pi Network Joins ISO 20022 For Seamless Banking Integration

Pi Network's native cryptocurrency, Pi Coin, is getting major attention with a continued rally upwards,…

October 29, 2025
  • News

Bitwise Solana Staking ETF (BSOL) Makes Record Debut with $69.5M Inflows, $289M NAV

Bitwise Solana Staking ETF (BSOL) makes an impressive debut with massive inflows and trading volumes,…

October 29, 2025
  • News

Trump Insider Whale Reloads $430M Long on BTC, ETH Ahead of Tomorrow’s Fed Rate Cut Decision

The “Trump Insider whale” has reportedly opened a $430 million long position in Bitcoin and…

October 29, 2025
  • News

Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026

Western Union has announced plans to launch a U.S. dollar-backed stablecoin built on the Solana…

October 28, 2025
  • News

Trump Media Launches Polymarket Rival, Eyes $9B Prediction Market with Crypto.com

Trump Media & Technology Group has announced a partnership with Crypto.com to launch Truth Predict.…

October 28, 2025
  • News

Bitget Lists Common Token, Launchpool Offers 36M COMMON in Rewards

Bitget, the top Universal Exchange (UEX), has introduced the COMMON token to its Launchpool, as…

October 28, 2025