Circle Plans to Move its Headquarters to Wall Street in 2025

According to Circle’s CEO and founder Jeremy Allaire, the stablecoin issuer is progressing with its initial public offering (IPO) debut and intends to relocate its headquarters to Wall Street in 2025.

Circle submitted its IPO filing in January, pending approval from the US Securities and Exchange Commission.

In an effort to bolster its USD Coin as a regulated version of the digital US dollar, Circle has recently integrated its stablecoin with the national banking systems of Brazil and Mexico.

This integration will allow businesses in both countries to have real-time access to USDC through local financial institutions.

However, Circle is facing competition from Tether, which holds over 70% of the market share compared to USDC’s 20%. In other news, Tether has appointed Jesse Spiro, former head of regulatory relations for PayPal’s blockchain and crypto division, as its new head of government affairs. Prior to this, Spiro held government relations positions at Chainalysis.