Circle Internet Group to Launch IPO on June 5th
Circle Internet Group, the issuer of the USDC stablecoin, is preparing to go public on June 5th following a prior unsuccessful SPAC attempt.
USDC's Market Position
Currently, USDC commands 26% of the fiat-collateralized stablecoin market, trailing behind Tether. However, it leads in transaction volume, boasting a remarkable 58% share as of May.
Business Model and Financial Impact
Circle Internet’s revenue model revolves around minting USDC, which is backed by cash and T-bills. This makes treasury yields a vital aspect of its financial performance.
Valuation Insights
The anticipated IPO valuation for CRCL appears more conservative compared to earlier efforts. Nonetheless, it remains potentially high due to existing business risks and the valuations of comparable firms.
As one of the anticipated 'crypto companies' entering the public equity markets, Circle Internet Group's IPO is set to capture significant attention. For more insights on stock performance and market trends, visit Inside Ticker.