It merges its businesses by accepting new transaction terms with Circle Internet Financial and Concord Acquisition Corp, which provides financial infrastructure services.
February 17 Circle Internet Financial and Concord Acquisition Corp, Issuer of USD Coin (USDC), “new transaction agreement” In connection with this, businesses will be merged and a new holding company will be established. The established company will acquire both Concord and Circle and become publicly traded. of the business “CRCL” on the New York Stock Exchange (NYSE) is scheduled to be traded.
With the agreement, the market value of Circle company, 2021 announced in July of 4.5 from billions of dollars 9 billion dollars determined to be removed. The development and market share of USDC issued by Circle is thought to have contributed to this price increase. Current market cap of USDC according to CoinMarketCap data $52.6 billion is around.
Co-founder and CEO of Circle, stating that Circle has taken great steps towards changing the global economy system thanks to the power of cryptocurrencies and the internet. Jeremy Allaire:
Being a public company is an important development that will further strengthen the trust in Circle and add to our mission of building a financial ecosystem. Thanks to the new agreement, we will be able to achieve our goals in a shorter time.
made statements.