Circle, the issuer of the popular USDC stablecoin, has launched its initial public offering, looking to raise about $624 million at a $5.65 billion valuation.

Circle Internet Group, the firm behind stablecoin USDC, has filed for an initial public offering on the New York Stock Exchange, the firm said on Tuesday. Circle is offering 24 million of its class A shares,

Key Takeaways Circle, the company behind the USDC stablecoin, said it plans to sell shares at $24 to $26 each in its IPO.The move would raise as much as $624 million for the company and its backers.Circle's USD Coin is a stablecoin,