Stablecoin issuer Circle plans to go public on the New York Stock Exchange (NYSE), targeting a $6.7 billion valuation. The firm aims to raise up to $624 million by offering 24 million shares priced between $24 to $26 each. Circle is known for its USD Coin (USDC), which is one of the significant digital assets in the cryptocurrency market. The filing with the Securities and Exchange Commission is part of a broader trend of crypto firms seeking mainstream acceptance. Cathie Wood's ARK Investment has expressed interest in purchasing up to $150 million in shares. Circle's previous attempt to go public via a SPAC in 2022 was canceled, and it's believed that the firm has faced acquisition attempts, including a reported $4-5 billion offer from Ripple. USDC has a market cap of $61.5 billion and sees significant trading volume, reaffirming its role as a vital component of the crypto economy.

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