Circle, the issuer of the second largest stablecoin by market cap, USDC , announced on Monday that it has increased the expected price range for its upcoming initial public offering (IPO).

According to Reuters, the new price range has been adjusted from the previously announced $24 to $26 per share to a more ambitious $27 to $28 per share, detailed in a filing with the Securities and Exchange Commission (SEC).

Circle Set For NYSE Debut Under Ticker ‘CRCL’

At the upper end of this revised price range, Circle anticipates raising approximately $896 million, which would propel the company’s valuation to $7.2 billion, according to Reuters.

The decision to upsize the IPO is attributed to several factors, including Circle’s growing momentum in the stablecoin market, a strong investor

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