#CircleIPO
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Why is BlackRock going for the IPO of Circle?
Circle may be valued at $6 billion - 1.5 times more than a couple of months ago. Let's understand why BlackRock is participating in the deal, why Ripple couldn't seize the initiative, and what the future holds for the stablecoin market.
Why is BlackRock going for the IPO of Circle?
The material was prepared by the Bitbanker digital platform team.
Ripple, which issues XRP, attempted to buy Circle (the issuer of the USDC stablecoin), but the attempt was unsuccessful - Circle is going public.
According to Bloomberg, investment giant BlackRock intends to acquire 10% of the shares offered during the planned IPO. Ark Investment Management, specializing in growth stories, is also in the game.
Presumably, Circle will receive a valuation of around $6 billion. This is more than the previously mentioned valuation of $4 billion, but significantly less than the $20 billion valuation mentioned at the time Ripple was actively involved in the race to acquire Circle.
It is worth noting that BlackRock has already become a kind of bridge between crypto and the world of traditional finance. The spot Bitcoin ETF (IBIT) launched by this financial giant has become the largest by market capitalization, far ahead of its competitors.
