Circle, the payments company behind the USDC stablecoin, has announced that it will go public on the New York Stock Exchange (NYSE) through a special purpose acquisition company (SPAC). The SPAC taking Circle public, known as Concord Acquisition Corp, is publicly traded on the NYSE under the ticker CND.
The announcement came from a blog post on the company’s website from its CEO, Jeremy Allaire. In the post, Allaire said that the deal now values the company at $4.5 billion. Once the deal is completed, the company is set to trade under the ticker CRCL on the NYSE.
Back in May, the company received $440 million in funding from Fidelity, FTX, Digital Currency Group and more. The recent financing and deal with the SPAC will give Circle over $1.1 billion in capital.
In the post, Allaire noted that the core piece of the company’s mission was the growth of its USD stablecoin, USDC.
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