Circle, the company behind the USDC stablecoin, has confidentially filed paperwork for a U.S. initial public offering, according to Reuters. The move comes as demand for dollar-pegged digital assets continues to grow across crypto markets and payments.

USDC is one of the largest stablecoins in circulation and is widely used by traders and platforms that want exposure to a token tied closely to the U.S. dollar. Circle’s IPO plan suggests the company sees a path to expand further as interest in regulated digital finance builds.

The filing is another sign that crypto firms are looking to tap public markets after years of turbulence across the industry. A successful listing could give Circle more capital and visibility, while also placing the firm under greater scrutiny from investors and regulators.

Reuters reported that the filing was made confidentially, a common step before a public debut. Details such as the size of the offering and timing have not yet been disclosed.