USDC Stablecoin发行人圈子的IPO价格在每股24至26美元之间，该公司的价值为54亿美元

今天，USDC Stablecoin的发行人Circle宣布其股票的价格范围在24至26美元之间，以54亿美元的价格评估该公司。

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的发行人Circle（NYSE：CRCL）的关键时刻，因为它宣布了首次公开募股（IPO）的计划，其股票价格范围为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，该公司的价值为54亿美元。该公司计划在纽约证券交易所列出CRCL的股票符号。

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，在特朗普总统在4月初发布了其IPO招股说明书后不久，IPO面临不确定性。由于随后的市场波动，许多人认为IPO窗口可能已经暂时关闭。

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.

同时，据报道，Ripple竞标了约50亿美元的公司，这被拒绝了。有传言称，Coinbase（NASDAQ：COIN）也有兴趣收购Circle，这对于Stablecoin公司来说可能是一个更具吸引力的选择。

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已经同意以29亿美元收购加密货币期权公司Deribit之后，另一笔收购可能会给公司消化不良，而交易所也披露了一些支持人员贿赂后的数据泄露。

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.

作为IPO的一部分，Circle的目标是筹集2.5亿美元，承销商可以选择获取价值近9400万美元的额外股票以支付整体产品。现有投资者计划出售3.74亿美元的股票。 JP Morgan，Citigroup和Goldman Sachs是联合首席经理。

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的竞赛中，Circle宣布了Circle支付网络，以删除跨境支付中的一些摩擦。尽管Stablecoins有帮助，但在稳定币和常规货币之间转换的最后一英里可能会具有挑战性。该网络涉及多家主要银行，例如德意志银行，桑坦德，社会兴建和标准租赁。

A critical juncture for stablecoins

稳定的关键点

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的消息传来，因为Stablecoins面临着关键时刻。美国正在批准《天才法案》法律立法的风口王，该法案可能比最大的竞争对手束缚更有利于圈子。

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.

自从美国大选带来了更加加密友好的政府以来，USDC的市值增长了73％，而Tether的27％，尽管USDC的起始基地要小得多。从绝对的角度来看，自选举以来，Circle的增长了260亿美元，至615亿美元，而Tether的增长320亿美元至1525亿美元。

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.

同时，竞争正在加热。 Circle的Stablecoin USDC是第二大，但是最大的陆上Stablecoin，鉴于Tether是从El Salvador发行的。几位新的Stablecoin发行人已经挺身而出。例如，特朗普与世界自由金融公司（World Financial）发行了USD1 Stablecoin，《华尔街日报》（Wall Street Journal）最近报道说，银行正在探索发行联合Stablecoin。 Stripe揭示了针对小型企业的Stablecoin财务帐户，其辅助桥正在发行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.

加密领域的收购数量也加速了。 Circle作为一家上市公司的关键好处是，如果它想获得其他创业公司，它将其处于更有利的位置。