Circle CEO: Still Unchanged Vision for IPO, Market Hopes Stable Coin Legislation Will Pass After U.S. Election

In an interview with stablecoin USDC issuer Circle on Oct. 27, Bloomberg reported that the company has aspired to go public for years and remains unchanged in that vision, and that the company doesn't need to take funding from the private markets.

According to Jeremy Allaire, “We're committed to the path to IPO, and Circle could be a really interesting company in the public markets, but the path to IPO has been bumpy.”

Earlier this year, Circle chose the more traditional path, secretly filing a draft registration for an IPO with the SEC in January. Jeremy Allaire has declined to comment on any contact the company has had with the SEC or other regulators in the nine-and-a-half months since the filing of the draft IPO registration, during which time the U.S. government has launched a massive crackdown on companies in the cryptocurrency industry. Circle has been increasing staffing this year with a view to going public, and the hiring spree has also been fueled by regulatory-related optimism that lawmakers in Washington may eventually provide some regulatory framework for the industry in the form of a stablecoin bill.Jeremy Allaire said the market is strongly optimistic that stablecoin legislation could be passed after this November's election, and that the new regulatory measures will let more traditional financial players, including banks, asset managers, and payment companies, to enter the crypto-asset ecosystem with the confidence that they will only work with regulated infrastructure, and Circle is ready for that.