Circle Moves Legal Headquarters to U.S. Ahead of IPO, Leaving Ireland Behind: Bloomberg Reports
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Circle has filed to transfer its legal headquarters from Ireland to the United States.
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In January, the issuer of the second-largest stablecoin announced its intention to publicly list its shares in the U.S.
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Circle, the company behind the USDC stablecoin, is officially planning to relocate its legal domicile to the United States as it prepares for an upcoming initial public offering (IPO), according to a report by Bloomberg.
The company has recently submitted court documents to facilitate this move, although a spokesperson declined to provide further details on the reasons behind the decision.
Circle, which applied to go public with the U.S. Securities and Exchange Commission (SEC) earlier this year in January, is currently based in the Republic of Ireland.
USDC, Circle’s stablecoin, ranks as the second-largest in the cryptocurrency market with a market capitalization nearing $33 billion, as per data from CoinMarketCap. Leading the market is Tether’s USDT, which boasts a market cap of approximately $100 billion.
The company has not yet provided a response to requests for additional comments.
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