Circle Internet Financial Ltd., the issuer of the popular USDC stablecoin, is gearing up for a public listing via an Initial Public Offering (IPO). To achieve this, the company has launched a massive hiring spree, aiming to fill over 140 positions across various teams, including business development, engineering, and marketing.

New Hires and Roles

The company has already filled 137 positions since the beginning of the year, representing a 15% increase in its employee headcount. Some of the new hires include Chief Accounting Officer Tamara Schulz and Business Development Director for Exchanges Pierre Carras, who joined in May. Sterling Barnett, now the director of business development, joined in April and is responsible for leading North American and European exchange partnerships for Circle.

Circle's IPO Journey

Circle has been planning to go public for several years, initially attempting a SPAC deal in 2022. However, the deal was terminated due to the US Securities and Exchange Commission's (SEC) delay in declaring the business registration statement effective. The company refiled for an IPO in January 2024 and is currently awaiting SEC approval. The exact details of the IPO, including the number of shares and proposed price range, have not been disclosed.

SEC Review and Determination

The SEC is yet to complete its review process, but Circle's determination to go public is evident. The company's CEO, Jeremy Allaire, has highlighted the importance of this step in the company's growth. As Circle continues to prepare for its public listing, it remains to be seen how the company will navigate the challenges and opportunities that come with being a publicly traded entity.