Stablecoin Issuer Circle Files to Shift Legal Home to U.S. From Ireland Ahead of Planned IPO: Bloomberg

As a seasoned crypto investor with a keen interest in the regulatory landscape and corporate developments within the industry, I find Circle’s decision to relocate its legal base to the United States ahead of an IPO intriguing. This move comes on the heels of the company’s announcement in January that it planned to list its shares publicly in the U.S.

As a researcher studying the developments in the digital currency sector, I’ve come across noteworthy news: Circle, the entity behind the USDC stablecoin, is reportedly planning to establish the United States as its new legal headquarters. This decision comes prior to an anticipated initial public offering (IPO) in the country, according to a Bloomberg article published on Wednesday.

According to a recent report, the company has submitted court documents for this action, yet the reasons behind it, as shared by a company representative who chose not to expand on the matter, remain unclear.

A circle company, yet to go public with its shares in the United States via the SEC in January, is presently based in the Republic of Ireland.

According to CoinMarketCap’s latest data, the company’s USDC stablecoin ranks second in the crypto market with a market capitalization of approximately $33 billion. Tether’s USDT, however, holds the top spot with a market cap of over $100 billion.

Circle did not immediately respond to CoinDesk’s request for further comment.