Circle reportedly moving HQ to New York ahead of IPO

Stablecoin operator Circle edged closer to going public with plans to redomicile its business on U.S. soil.

Crypto payment giant and (USDC) issuer Circle will reportedly announce its new global headquarters in New York on Sept. 13, as the firm progresses toward an initial public offering. After moving from Ireland, with operations in Boston as well, Circle’s new home will be the famous One World Trade Center.

Other crypto-savvy companies, like Reddit, also hold offices in the city’s tallest building. New York City Mayor and crypto supporter Eric Adams is expected to attend the opening ceremony. Adams has publicly supported cryptocurrencies, even accepting his first three salaries as NY’s mayor in Bitcoin (BTC).

A request for comment sent to Circle by crypto.news was unanswered at the time of publication.

Circle’s IPO closer than ever

Moving to New York City could solidify Circle’s IPO plans and smooth the roadmap for going public. The firm’s previous attempt via a SPAC agreement with Concord Acquisition failed in 2022.

At the time, Circle CEO Jeremy Allaire said a delayed response from the Securities and Exchange Commission was partly behind the mutual termination.

Two years later, USDC’s manager is eyeing U.S.-based operations. The digital currency operator already secured the first stablecoin license in Europe under the bloc’s Markets in Crypto-Assets Regulation, also known as MiCA.

A successful IPO and U.S. stock exchange listing would crown Circle as the first stablecoin company to go public. USDC ranks second in the dollar-pegged stablecoin market, with a $34 billion market cap. Only Tether (USDT) holds a larger market share, with a $118 billion valuation and circulating supply.