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Circle Internet Financial, the issuer of the USDC stablecoin, plans to shift its legal base from the Republic of Ireland to the United States. This move comes as Circle prepares for an initial public offering (IPO), for which it confidentially filed paperwork with the SEC in January. The company has not disclosed the specific reasons behind the relocation, but it is expected to face more onerous taxes in the U.S. Circle recently burned 100m $USDC on Ethereum in two transactions. Circle's decision to move its headquarters is seen as a strategic step to become the second registered and regulated stablecoin issuer in the U.S., following PayPal.
.@circle, issuer of $USDC, intends to make the U.S. its new legal home ahead of its planned IPO there, according to a report on Wednesday. https://t.co/k6poMFBNX1
USDC issuer @circle plans to shift its legal domicile from Ireland to the U.S. The move comes ahead of the Circle's potential IPO, for which it filed paperwork with the SEC in January. Read more: https://t.co/HYZzK8No7c https://t.co/n7jM7fDcW1
As Ive been predicting @circle moving their offices from Ireland to the US. Why? To IPO, list on the stock market and be the second registered and regulated stable coin issuer behind @PayPal - the stable coin race is on. "Circle, a stablecoin issuer, rumored to be preparing for…
