One of crypto’s most revered companies, Circle, has finally filed its S1 prospectus with the SEC ahead of a much anticipated IPO. Crypto stocks have become a clean way for people outside the industry to express a view on the industry’s growth story. Coinbase, in particular, was a pivotal IPO that brought a lot of credence and positive attention to the industry.

Circle is next up, and sits at the heart of the most fundamentally-sound and forward-looking narrative arc in crypto: stablecoins. The Circle story is really easy to grasp. A top two stablecoin, consistent growth in supply, con