Circle, the payments company that created the USDC stablecoin, may now be looking to go public via a SPAC (special purpose acquisition company) deal, according to sources that spoke with The Block Crypto.
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In a new round of funding, Circle raised $440 million in new capital. The funding came from Fidelity, FTX, Valor Capital Group, Digital Currency Group and others. Circle is reportedly looking for a valuation of $4 billion.
In 2018 the company raised $110 million valuing the Circle at $3 billion. Later in 2020, a round led by Digital Currency Group added another $25 million.
Should Circle go public with a SPAC deal it will join Coinbase as the second cryptocurrency company to go public in the U.S. Other crypto-companies that have hinted at such a move include Kraken, Gemini, BlockFi and more.