USDC Stablecoin發行人圈子的IPO價格在每股24至26美元之間，該公司的價值為54億美元

今天，USDC Stablecoin的發行人Circle宣布其股票的價格範圍在24至26美元之間，以54億美元的價格評估該公司。

Today marks a crucial juncture for Circle (NYSE:CRCL), the issuer of the USDC stablecoin, as it announced plans for an initial public offering (IPO) with a stock price range of $24 to $26.

今天是USDC Stablecoin的發行人Circle（NYSE：CRCL）的關鍵時刻，因為它宣布了首次公開募股（IPO）的計劃，其股票價格範圍為24至26美元。

At this valuation, the firm is valued at $5.4 billion. The company plans to list on the New York Stock Exchange with a ticker symbol of CRCL.

在此估值下，該公司的價值為54億美元。該公司計劃在紐約證券交易所列出CRCL的股票符號。

However, the IPO faced uncertainty after President Trump unveiled far-ranging tariffs shortly after Circle published its prospectus for the IPO at the start of April. Due to the market volatility that followed, many believed the IPO window might have temporarily closed.

但是，在特朗普總統在4月初發布了其IPO招股說明書後不久，IPO面臨不確定性。由於隨後的市場波動，許多人認為IPO窗口可能已經暫時關閉。

In the meantime, Ripple reportedly made a bid for the company of around $5 billion, which was rejected. There were rumors that Coinbase (NASDAQ:COIN) was also interested in acquiring Circle, which could have been a more attractive option for the stablecoin firm.

同時，據報導，Ripple競標了約50億美元的公司，這被拒絕了。有傳言稱，Coinbase（NASDAQ：COIN）也有興趣收購Circle，這對於Stablecoin公司來說可能是一個更具吸引力的選擇。

Another acquisition might give the company indigestion after Coinbase already agreed to acquire crypto options firm Deribit for $2.9 billion and the exchange also disclosed a data breach following the bribery of some support personnel.

在Coinbase已經同意以29億美元收購加密貨幣期權公司Deribit之後，另一筆收購可能會給公司消化不良，而交易所也披露了一些支持人員賄賂後的數據洩露。

As part of the IPO, Circle is aiming to raise $250 million, with the underwriters given the option to acquire additional shares worth almost $94 million to cover overallotments. Existing investors plan to sell $374 million of stock. JP Morgan, Citigroup and Goldman Sachs are joint lead managers.

作為IPO的一部分，Circle的目標是籌集2.5億美元，承銷商可以選擇獲取價值近9400萬美元的額外股票以支付整體產品。現有投資者計劃出售3.74億美元的股票。 JP Morgan，Citigroup和Goldman Sachs是聯合首席經理。

In the run-up to the IPO, Circle announced the Circle Payment Network to remove some of the frictions in cross-border payments. While stablecoins help, the last mile of converting between stablecoins and conventional currency can prove challenging. The network involves several major banks such as Deutsche Bank, Santander, Societe Generale and Standard Chartered.

在IPO的競賽中，Circle宣布了Circle支付網絡，以刪除跨境支付中的一些摩擦。儘管Stablecoins有幫助，但在穩定幣和常規貨幣之間轉換的最後一英里可能會具有挑戰性。該網絡涉及多家主要銀行，例如德意志銀行，桑坦德，社會興建和標準租賃。

A critical juncture for stablecoins

穩定的關鍵點

News of the IPO comes as stablecoins face a critical juncture. The US is on the cusp of approving the GENIUS Act stablecoin legislation, which potentially favors Circle more than its biggest competitor Tether.

IPO的消息傳來，因為Stablecoins面臨著關鍵時刻。美國正在批准《天才法案》法律立法的風口王，該法案可能比最大的競爭對手束縛更有利於圈子。

Since the US election, which brought in a more crypto-friendly administration, the market capitalization of USDC has grown 73% versus Tether’s 27%, although USDC had a far smaller starting base. In absolute terms, Circle has grown $26 billion to $61.5 billion since the election, compared to Tether’s growth of $32 billion to $152.5 billion.

自從美國大選帶來了更加加密友好的政府以來，USDC的市值增長了73％，而Tether的27％，儘管USDC的起始基地要小得多。從絕對的角度來看，自選舉以來，Circle的增長了260億美元，至615億美元，而Tether的增長320億美元至1525億美元。

At the same time, competition is heating up. Circle’s stablecoin USDC is the second-largest, but is the largest onshore stablecoin, given Tether is issued out of El Salvador. Several new stablecoin issuers have come forward. For example, the Trump-linked World Liberty Financial issued the USD1 stablecoin and the Wall Street Journal recently reported that banks are exploring issuing a joint stablecoin. Stripe unveiled stablecoin financial accounts for small businesses, and its subsidiary Bridge is issuing a stablecoin, USDB.

同時，競爭正在加熱。 Circle的Stablecoin USDC是第二大，但是最大的陸上Stablecoin，鑑於Tether是從El Salvador發行的。幾位新的Stablecoin發行人已經挺身而出。例如，特朗普與世界自由金融公司（World Financial）發行了USD1 Stablecoin，《華爾街日報》（Wall Street Journal）最近報導說，銀行正在探索發行聯合Stablecoin。 Stripe揭示了針對小型企業的Stablecoin財務帳戶，其輔助橋正在發行Stablecoin，USDB。

The number of acquisitions in the crypto sphere has also accelerated. A key benefit for Circle as a listed firm is it puts it in a more advantageous position if it wants to acquire other startups.

加密領域的收購數量也加速了。 Circle作為一家上市公司的關鍵好處是，如果它想獲得其他創業公司，它將其處於更有利的位置。