Circle has been in informal contact with Coinbase and Ripple about the sale

Circle Internet Financial, the issuer of the stablecoin USDC, filed paperwork in early April to move forward with its long-awaited initial public offering, according to four investment banking and private equity executives. However, Circle has also recently held informal sale talks with Coinbase, the largest US crypto exchange, and Ripple, a crypto payments company, these people said. Circle hopes to sell at a valuation of at least $5 billion, in line with its IPO target, the people said, speaking on condition of anonymity to discuss private negotiations.