Circle is preparing to become a public company in the near future, that’s why the headquarters of the issuer of one of the largest stablecoins will be moved to NYC. Company officials are also making high-profile announcements about the crypto industry’s future, while entering into a strategic partnership with Sony.
Jeremy Allaire, Circle’s Co-Founder and CEO, said that 2024 is a pivotal year for the company and the entire cryptocurrency industry. The next year will strengthen the position of stablecoins as a reliable means of payment in the United States. In this regard, the company is already preparing to move its headquarters to New York City, building offices in the Freedom Tower building.
The official announcement of the move and a ribbon-cutting ceremony attended by New York City Mayor Eric Adams will take place on Friday, September 20. Circle plans to move its global headquarters from Ireland to the U.S. in early 2025, a sign that the company expects its IPO filing to be approved by the Securities and Exchange Commission (SEC) in the near future.
According to Allaire, 2025 will be the starting point for an open, inclusive, secure, and efficient global economic system. And the U.S. will be at the forefront of that transformation. He also believes stablecoins will ensure compatibility between the traditional financial system and the crypto market, and stablecoin issuers will play a critical role in mass crypto adoption.
Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle, also noted that stablecoins will become even more widespread as a means of payment in the near future. In his opinion, in order for the adoption process to be more efficient, stablecoin issuers need to comply with global regulatory requirements, which in turn need to be brought to uniform standards around the world.
Circle also entered into a partnership agreement with Sony Block Solutions Labs, the blockchain division of Sony. The partnership will expand the use of the USDC stablecoin on the Sodium network, Sony’s Ethereum L2 protocol. In particular, the stablecoin will become the main dollar-pegged payment medium on the platform.
Earlier, in anticipation of its IPO, Circle stopped supporting blockchain network TRON, recognized by UN analysts as the most popular network for fraudulent crypto transactions.
