Company
Date Published
Author
Jeremy Allaire
Word count
1660
Language
English
Hacker News points
None

Summary

Circle Internet Financial has announced a significant development in its corporate journey, revealing plans to become a publicly traded company on the New York Stock Exchange through a merger with Concord Acquisition Corp, a special purpose acquisition company. This transaction values Circle at an enterprise value of $4.5 billion and is set to raise over $1.1 billion in capital through various financing activities. Once completed, Circle will trade under the symbol "CRCL." The company, founded in 2013, is committed to enhancing global economic prosperity through digital currency and blockchain technology, with its USD Coin (USDC) seeing substantial growth. Circle continues to expand its suite of internet-based financial products, aiming to transform the global economic landscape with internet-native solutions. Despite this development being a milestone, Circle views it as a step in its ongoing mission to revolutionize economic systems through collaboration with a multi-stakeholder ecosystem and experienced partners like Concord.