Circle reportedly moving HQ to New York ahead of IPO

Stablecoin operator Circle has moved a step closer to going public with plans to relocate its business to US soil.

Crypto payments giant and (USDC) issuer Circle will reportedly announce its new global headquarters in New York on September 13 as the company moves toward an initial public offering. Circle, which also has operations in Boston after moving from Ireland, will be making its new home at the famed One World Trade Center.

Other crypto-savvy companies, like Reddit, also have offices in the city’s tallest building. New York City Mayor and crypto advocate Eric Adams is expected to attend the inauguration. Adams has been an outspoken supporter of cryptocurrencies, even accepting his first three salaries as NY mayor in Bitcoin (BTC).

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

Circle’s IPO is closer than ever

The move to New York City could solidify Circle’s IPO plans and smooth its IPO roadmap. The company’s previous attempt through a SPAC deal with Concord Acquisition fell through in 2022.

At the time, Circle CEO Jeremy Allaire said the Securities and Exchange Commission’s delayed response was also behind the mutual termination decision.

Two years later, USDC’s administrator has set his sights on U.S.-based operations. The digital currency operator has already secured the first stablecoin license in Europe under the bloc’s Markets in Crypto Assets Regulation, or MiCA.

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