The company behind the second-largest USD-pegged stablecoin by market cap is naming its price for its upcoming US initial public offering (IPO).
According to a Reuters report, USDC-issuer Circle says it is aiming for a $7.2 billion valuation in its upcoming IPO – about $28 per share – partially because of the current administration’s friendlier outlook on crypto regulations.
US dollar-pegged stablecoins aim to maintain a 1:1 value with the US dollar. Tether’s USDT is the largest USD-pegged stablecoin by market value.
Says Chief Investment Officer of Running Point Capital, Michael Ashley Schulman,
“Issues regarding memecoin hype and more specifically Trump’s ventures into a namesake coin should not directly affect the outlook for stablecoins backed by hard currency.”
According to the widely followed pseudonymous crypto
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