According to journalists, Circle, along with other shareholders, including co-founder and CEO Jeremy Allaire, intends to raise up to $624 million.

Another significant investment may come from Ark Investment Management led by Cathie Wood, which has applied to purchase shares worth up to $150 million, according to the statement. Demand for Circle shares in the IPO is expected to exceed supply by several times. The closing of the deal is scheduled for June 4, Bloomberg reported.