USDC issuer Circle submits IPO prospectus to SEC

According to The Block, Circle Internet Financial, the issuer of the US stablecoin USDC, submitted its initial public offering (IPO) prospectus to the US Securities and Exchange Commission (SEC) on Tuesday. The document shows that the company had secretly submitted a draft S-1 registration statement to the SEC the day before - this is the standard process for companies planning to go public. The prospectus does not disclose the specific number of shares to be issued and the target price range. Jeremy Allaire, CEO of Circle, stated in the prospectus that "listing on the New York Stock Exchange is a natural extension of Circle's pursuit of the highest level of transparency and accountability." This filing coincides with the Senate version of the Financial Services Committee's planned review of the stablecoin regulation bill; GENIUS Act&34; Approved in March. Last week, World Liberty Financial, supported by former President Trump, also announced the launch of stablecoins.