Circle Internet Financial Stock Valuation

Circle Internet Financial’s privately held stock is trading between $5 billion and $5.25 billion in value in the secondary market, reports CoinDesk citing several sources.

Circle has allowed select shares to trade under specific circumstances, with sellers likely being early-stage investors or employees cashing in options before going public.

Circle submitted a confidential S-1 form to the SEC in January to take its equity services public.

Circle’s Previous IPO Attempt

In July 2021, Circle announced plans to go public by merging with Concord Acquisition Corp., a special purpose acquisition company, valued at $4.5 billion. Prior to this, Circle raised $440 million from Fidelity, Valor Capital Group, and Marshall Wace.

A year later, Circle canceled its initial deal with Concord and entered new terms. By February 2022, Circle’s valuation grew to $9 billion.

Circle plans to consider going public again, aiming for a public trading status in 2024.

Circle issues USDC, a USD-pegged stablecoin, holding nearly 21% of the total stablecoin supply. USDC’s market capitalization stands at $33.6 billion, with a 24-hour trading volume of $6.6 billion.