Circle Internet Group, the issuer of the popular stablecoin USD Coin (USDC), has officially filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC). The filing, made on April 1, reveals that Circle plans to list its Class A common stock on the New York Stock Exchange under the symbol “CRCL.”

The IPO filing does not disclose the number of shares to be offered or the target price, but it does provide insight into Circle’s financials. According to the filing, the company generated $1.67 billion in revenue in 2020, a 16% increase from the previous year. However, its EBIDTA (Earnings before Interest, Tax, Depreciation, and Amortization) fell by 29% to $284.8 million.

This move marks a significant milestone for Circle, which was founded in 2013 and has since become one of the leading players in the digital currency space. The company has raised over $400 million in funding from top investors, including Goldman Sachs and Baidu.

Circle’s decision to go public comes at a time when the cryptocurrency market is experiencing a surge in interest and adoption. The company’s flagship stablecoin, USDC, has seen a significant increase in demand, with its market cap reaching over $11 billion in March 2021.

The IPO filing also includes a statement from Circle’s CEO and co-founder, Jeremy Allaire, who said, “We believe that becoming a public company will enhance our ability to drive innovation and growth in the digital currency and blockchain industry.”

This news has sparked excitement and speculation among investors and industry experts, with many predicting that Circle’s IPO will have a positive impact on the overall cryptocurrency market. It also highlights the growing mainstream acceptance and recognition of digital currencies as a legitimate asset class.

As this is a developing story, more information will be added as it becomes available. In the meantime, investors and crypto enthusiasts will be eagerly awaiting Circle’s IPO and its potential impact on the industry.