Circle’s Stablecoin (USDC) Relocates HQ to USA Prior to Anticipated IPO: A Significant Move in Crypto Industry

  • Stablecoin issuer Circle is reportedly planning to move its domicile to the US ahead of its planned initial public offering (IPO).
  • The firm, which issues the dollar-pegged crypto asset USDC, is currently based in Ireland.
  • Circle has also recently announced an upgrade to both USDC and EURC, its Euro-backed stablecoin.

Circle, the issuer of the dollar-pegged crypto asset USDC, is reportedly planning to move its domicile to the US from Ireland, ahead of its upcoming IPO. The firm has also announced significant upgrades to its stablecoins.

Circle Plans to Move to the US

According to a recent report by Bloomberg, Circle is planning to move its domicile from Ireland to the US. The news was confirmed by an anonymous company spokesperson, who stated that the court paperwork for the move was filed earlier this week. However, no specific reason for the move was given.

Circle’s Upcoming IPO

In January, Circle announced that it had submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC), signaling its intention to become a publicly traded company. The firm expects the IPO to launch after the SEC completes its review process. Details regarding the number of shares to be offered and their price have not yet been determined.

Upgrades to Circle’s Stablecoins

Alongside its planned move and IPO, Circle has also announced an upgrade to both USDC and EURC, its Euro-backed stablecoin. The v2.2 upgrade is expected to significantly reduce gas costs, improve support for account abstraction, and enhance transaction security on EVM blockchains. The upgrade adds to the momentum of USDC innovation after its recent expansion to six new blockchain networks, including mobile-focused Ethereum Virtual Machine (EVM)-compatible Celo (CELO) and layer-2 scaling solution zkSync.

Conclusion

Circle’s planned move to the US, its upcoming IPO, and the recent upgrades to its stablecoins signify significant developments for the firm. As the crypto market continues to evolve, these steps could potentially strengthen Circle’s position in the industry and expand its reach to a broader user base.

BREAKING NEWS

USDC Minting on Solana Surges to 7.25B Since October Crash; Circle Mints 1B in 24 Hours

COINOTAG News, citing OnchainLens, reports that Circle issued 1...

Roobet and Stake.com Gambler Opens 25x Ethereum Long With 25,000 ETH (~$78.6M), $2.25M Unrealized Gain

COINOTAG News, November 14, reports, per Lookonchain monitoring, that...

Bitcoin Buy Alert: MicroStrategy to Announce Next Major BTC Purchase Plan, Michael Saylor Says

COINOTAG News reported on November 14 that Michael Saylor,...

Fed Hawkish Signal Dashes December Rate-Cut Bets as Global Markets and Gold Slump on AI-Bubble Fears

Friday's price action in crypto markets reflected a risk-off...

Ethereum Whale Deposits 4,037 ETH into Kraken After 2-Year Staking, Secures $5.08M Profit

COINOTAG News, citing OnchainLens analytics, reports that a large...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img