Company Circle, which is behind the stablecoin USDC, is preparing to file for an initial public offering (IPO) at the end of April.

According to Goingspe, the company is working with leading investment banks JPMorgan Chase and Citigroup to guide this process, which will be an important step toward becoming the first stablecoin issuer to go public through a traditional IPO.

If Circle files as planned, its shares may start trading as early as May, although delays are possible. The listing will be the most significant IPO related to cryptocurrencies since Coinbase debuted on Nasdaq in 2021. Notably, Coinbase owns a stake in Circle.