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,

Circle Internet said on Tuesday it was targeting a valuation of up to $6.71 billion on a fully diluted basis in its U.S. initial public offering, as the stablecoin giant looks to tap into growing optimism around cryptocurrency.

Circle, led by Jeremy Allaire, has been chasing a public listing since at least 2021 when the company, then based in Boston, announced a blank-check company merger that was later scrapped.