Circle Pushes for 2025 IPO and Wall Street Headquarters

Circle, the stablecoin issuer, is actively pursuing its plans for an Initial Public Offering (IPO) on Wall Street in 2025 and aims to relocate its headquarters there. The company filed an IPO application with the US Securities and Exchange Commission in January, awaiting approval.

To strengthen the market position of its stablecoin, USDC, Circle recently integrated USDC with national payment systems in Brazil and Mexico. This allows businesses in these countries to access USDC through local financial institutions in real-time, eliminating the need for international wire transfers and accelerating cross-border transaction settlements.

Despite Circle's expansion efforts, its market share remains challenged by Tether (USDT), which currently holds over 70% of the market, compared to USDC's 20%. Meanwhile, Tether has bolstered its government affairs team by hiring Jesse Spiro, former head of regulatory relations for PayPal's blockchain business.

Circle's initiatives aim to enhance its competitiveness in the stablecoin market, especially within the rapidly developing digital dollar ecosystem.