With intentions to redomicile in the U.S., stablecoin operator Circle moved closer to going public
Circle, a crypto payment colossus and USDC issuer is expected to unveil its new global headquarters in New York on September 13 as it advances toward an initial public offering.
Circle’s new location will be the renowned One World Trade Center, following its relocation from Ireland and the establishment of operations in Boston.
The city’s tallest building is also home to offices of other crypto-savvy corporations, such as Reddit.
Eric Adams, the mayor of New York City and an advocate for cryptocurrency, is anticipated to attend the opening ceremony.
Adams has publicly advocated for cryptocurrencies and even accepted his first three salaries as the mayor of New York in Bitcoin.
Circle did not respond to a request for comment from crypto—news at the time of publication.
Circle’s IPO closer than ever
Moving to New York City could bolster Circle’s IPO ambitions and streamline the public process. In 2022, the organization’s decision to establish an SPAC agreement with Concord Acquisition was unsuccessful.
Jeremy Allaire, the CEO of Circle, stated that the mutual termination was partially due to a delayed response from the Securities and Exchange Commission.
USDC’s manager is currently considering U.S.-based operations two years later. The digital currency operator obtained the initial stablecoin license in Europe under the Markets in Crypto-Assets Regulation, also known as MiCA.
Circle would be the first stablecoin company to go public if it successfully completed an initial public offering (IPO) and was listed on a U.S. stock exchange.
USDC is the second most valuable stablecoin in the dollar-pegged market, with a market capitalization of $34 billion. With a circulating supply and valuation of $118 billion, Tether is the only cryptocurrency with a more significant market share.
