Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
USDC stablecoin issuer Circle plans to redomicile to the US ahead of possible IPO

USDC stablecoin issuer Circle plans to redomicile to the US ahead of possible IPO

The BlockThe Block2024/05/15 10:16
By:The Block

Stablecoin issuer Circle is planning to redomicile from Ireland to the U.S. Circle confidentially filed for an initial public offering of its equity securities in January.

USDC stablecoin issuer Circle plans to redomicile to the US ahead of possible IPO image 0USDC +0.016% stablecoin issuer Circle plans to shift its legal base from Ireland to the United States.

Circle's parent company recently filed required paperwork with the High Court of the Republic of Ireland to redomicile the firm, a spokesperson confirmed to The Block. However, the reason for the move remains unclear. Bloomberg first reported the news on Wednesday.

A potential initial public offering for Circle could be among the reasons, especially given the U.S.’s higher tax burden compared to Ireland’s relatively low corporate tax rates, which makes the move otherwise unattractive.

In January, Circle confidentially filed for an IPO of its equity securities under plans to become a publicly traded company. The firm confidentially submitted a draft registration statement S-1 form to the U.S. Securities and Exchange Commission — a common approach for companies seeking to go public, offering them the flexibility to finalize their plans away from the public eye.

The firm previously said details on share quantity and pricing are yet to be determined, and that the launch is pending SEC review and subject to market and other conditions.

Circle’s USDC is the second-largest stablecoin behind Tether’s USDT, with a market capitalization of $32.9 billion, according to The Block’s price page .

 

In 2021, Circle agreed to go public through a merger with a Special Purpose Acquisition Company named Concord Acquisition Corp., but that arrangement later fizzled out. 

Circle's investors include financial heavyweights like Goldman Sachs, Fidelity and BlackRock.



0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Hyperliquid (HYPE) Price Prediction 2026: Will Rising Adoption Propel It to $90? While Qubetics Presale Smashes Past $18 Million

Explore Hyperliquid's HYPE price prediction for 2026, with projections as high as $90. Discover Qubetics' $18M presale and how its Layer 1 wallet is redefining decentralized autonomy.The Rise of Hyperliquid: A Quiet Revolution in DeFiQubetics: Enabling Secure Digital Autonomy Through a Non-Custodial Multi-Chain WalletConclusion: Hyperliquid and Qubetics Define DeFi’s Next Frontier

Coinomedia2025/06/18 19:01
Hyperliquid (HYPE) Price Prediction 2026: Will Rising Adoption Propel It to $90? While Qubetics Presale Smashes Past $18 Million

Bitcoin Cycle Predicts $205K Peak in 2025

Bitcoin may hit $205K in 2025 if its 3-year growth, 1-year consolidation cycle holds true, signaling a potential 120% rally ahead.BTC’s Proven 4-Year Pattern Returns$205K in Sight: Can BTC Double Again?Why This Matters for Investors

Coinomedia2025/06/18 19:00
Bitcoin Cycle Predicts $205K Peak in 2025