Circle to Relocate HQ to New York as IPO Plans Accelerate

Stablecoin issuer Circle is reportedly preparing to move its global headquarters to New York City, marking a significant step toward its highly anticipated initial public offering (IPO). The company, known for managing the USD Coin (USDC), will officially announce the relocation to One World Trade Center on September 13. The move signifies Circle’s shift from its previous base in Ireland and its Boston operations, further anchoring its presence in the U.S. financial landscape.

Circle joins other prominent tech companies, including Reddit, in the iconic New York City skyscraper. The headquarters’ inauguration is expected to draw New York City Mayor Eric Adams, a known advocate for cryptocurrency, who famously received his first three mayoral paychecks in Bitcoin.

While Circle has not responded to inquiries regarding the move, its IPO ambitions appear closer than ever. The company’s previous attempt to go public via a Special Purpose Acquisition Company (SPAC) merger with Concord Acquisition was called off in 2022, with CEO Jeremy Allaire citing regulatory delays from the Securities and Exchange Commission (SEC) as a contributing factor.

Now, with its U.S. operations expanding and fresh momentum behind its IPO, Circle is poised to make history as the first stablecoin operator to go public on a U.S. exchange. Already holding a $34 billion market cap, USDC is the second-largest stablecoin in the world, trailing only Tether, which commands a $118 billion valuation.

source