Circle, the issuer of the popular USDC stablecoin, has launched its initial public offering, looking to raise about $624 million at a $5.65 billion valuation.

Circle, led by Jeremy Allaire, has been chasing a public listing since at least 2021 when the company, then based in Boston, announced a blank-check company merger that was later scrapped.

Key Takeaways Circle, the company behind the USDC stablecoin, said it plans to sell shares at $24 to $26 each in its IPO.The move would raise as much as $624 million for the company and its backers.Circle's USD Coin is a stablecoin,