Circle Internet Financial

圆币互联网金融

, the company behind the

，背后的公司

USDC/USD

USDC/USD

stablecoin, is reviving its public listing ambitions and is reportedly preparing to file for an

稳定币，正在重振其公开上市的雄心，并据报道正准备申请一个

initial public offering

首次公开募股

by late April.

四月下旬。

What Happened:

发生了什么：

The crypto-focused fintech is working with

专注于加密货币的金融科技公司正在与

JPMorgan Chase

摩根大通

JPM

摩根大通

and Citi as advisors, Fortune

并聘请花旗银行为顾问，财富

reported

已报告

on Monday, quoting sources familiar with the matter.

周一，援引熟悉此事的消息来源。

This would mark Circle's second major attempt to go public.

这将是Circle第二次尝试上市。

Its earlier 2021 effort via a SPAC deal was abandoned after regulatory delays and broader market turmoil following the

其在2021年通过SPAC交易的早期努力因监管延迟以及随后更广泛的市场动荡而被放弃。

collapse of crypto exchange

加密货币交易所的倒闭

FTX

FTX

.

。

In January 2024, Circle confidentially filed with the SEC for a traditional IPO, and the upcoming public filing will provide the first official look at the company's financials.

2024年1月，Circle已秘密向美国证券交易委员会(SEC)提交了传统首次公开募股(IPO)的申请，即将到来的公开文件将提供该公司财务状况的首次官方披露。

Founded in 2013 by

成立于2013年，由

Jeremy Allaire

杰里米·阿莱尔

and

和

Sean Neville

肖恩·内维尔

, Circle has evolved from a broader crypto services firm into a stablecoin-focused financial platform.

，Circle已经从一家广泛的加密服务公司发展成为一家专注于稳定币的金融平台。

Its USDC stablecoin, once operated through a consortium called Centre with

其USDC稳定币曾通过名为Centre的联盟运营，

Coinbase

币安

COIN

硬币

as its sole remaining partner, has seen a dramatic rebound since early 2023.

作为其唯一的剩余合作伙伴，自2023年初以来出现了戏剧性的反弹。

Following a brief de-pegging during the Silicon Valley Bank crisis—when $3.3 billion in reserves were temporarily locked—USDC has since recovered, now boasting a $60 billion market cap.

在硅谷银行危机期间，USDC 曾短暂脱钩——当时 33 亿美元的储备金暂时被锁定——之后 USDC 已经恢复，目前市值达到 600 亿美元。

Also Read:

另请阅读：

Tom Lee Says ‘We’ve Got The Right Pieces For A Bottom,’ Bitcoin ‘Could Do Well Into Year-End’

汤姆·李表示：“我们具备了触底的正确条件”，比特币“可能在年底前表现良好”。

Despite its growth, Circle's financial health remains closely tied to interest income. As of the first half of 2023, 99% of its revenue came from interest earned on reserve assets like U.S. Treasuries.

尽管Circle的业务有所增长，但其财务健康状况仍与利息收入密切相关。截至2023年上半年，其99%的收入来自美国国债等储备资产的利息收益。

Circle is reportedly seeking a valuation between $4 billion and $5 billion for its IPO, a sharp drop from the $9 billion valuation it reached during its SPAC attempt.

据报道，Circle为其IPO寻求的估值在40亿至50亿美元之间，较其通过SPAC上市时达到的90亿美元估值大幅下降。

Why It Matters:

重要性：

Circle's public debut would be the largest crypto IPO since Coinbase went public in 2021.

Circle的公开上市将是自Coinbase于2021年上市以来最大的加密货币IPO。

Like Coinbase, Circle's IPO is arriving as the market for new listings shows renewed signs of life.

像Coinbase一样，Circle的首次公开募股（IPO）正值新股上市市场显示出复苏迹象之际。

So far in 2025, IPO activity has jumped 70% compared to the same period last year, signaling a more favorable climate for tech and crypto companies.

到 2025 年目前为止，IPO 活动比去年同一时期增长了 70%，这表明对科技和加密货币公司来说环境更加有利。

With stablecoin regulation advancing in Washington—backed by a pro-crypto stance from President Trump—Circle’s positioning in the market appears timely.

随着华盛顿推进稳定币监管——并受到总统特朗普支持加密货币立场的推动——Circle在市场中的定位显得恰逢其时。

However, the company now faces increased competition from both crypto-native firms and traditional finance players like

然而，该公司现在面临着来自加密原生公司和传统金融公司等的日益激烈的竞争，如

PayPal

贝宝

PYPL

PayPal Holdings, Inc.

and

和

Ripple

瑞波

XRP/USD

XRP/USD

, which have launched stablecoins of their own.

，这些公司已经推出了自己的稳定币。

Read Next:

接下来阅读：

Trump Family To Dive Into Bitcoin Mining After DeFi, Meme Coin Projects

特朗普家族将在涉足DeFi和迷因币项目后，进军比特币挖矿领域。

Image: Shutterstock

图片：Shutterstock

$

$

USDC

USDC

USD Coin

美元币

$1.00

1.00美元

-

-

%

%

Overview

概述

$

$

XRP

瑞波币

Ripple

涟漪

$2.12

2.12美元

-0.66

-0.66

%

%

COIN

硬币

Coinbase Global Inc

Coinbase全球公司

$171.50

171.50美元

-1.40

-1.40

%

%

JPM

摩根大通

JPMorgan Chase & Co

摩根大通公司

$243.41

243.41美元

0.23

0.23

%

%

PYPL

PayPal Holdings, Inc.

PayPal Holdings Inc

贝宝控股公司

$64.73

64.73美元

-0.65

-0.65

%

%

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