Stablecoin issuer Circle targets $7.2 billion valuation in upsized US IPO

Circle's dollar-denominated USDC, the second-largest stablecoin in the world, is expected to benefit from the impending stablecoin bill, which is expected to catalyse institutional adoption. Stablecoins are designed to maintain a constant value, usually a 1:1 dollar peg, and are commonly used by crypto traders to move funds between tokens.