- In January, Circle submitted an IPO application to the US SEC.
- Regardless of these actions, Circle is still falling behind Tether, the market leader.
In 2025, Circle, an issuer of stablecoins, intends to relocate its headquarters to Wall Street, as stated by CEO and founder Jeremy Allaire. The company is also proceeding with its initial public offering (IPO). In January, Circle submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC).
Regardless of these actions, Circle is still falling behind Tether, the market leader, with a 70% share compared to USDC’s 20%. The second major development is that Tether has appointed Jesse Spiro, who was formerly PayPal’s director of regulatory relations for blockchain and crypto business, to the position of head of government affairs. While at Chainalysis, Spiro was in charge of government relations.
Major Developments
The USDC stablecoin, which is tied to the US dollar, is now part of Circle’s network of national payment systems in Mexico and Brazil, including the real-time payment services SPEI and PIX, respectively.
As a result of the integration, companies in both nations may now utilize USDC for transactions instead of international wire transfers, which might shorten settlement times. Businesses will be able to conduct cross-border transactions more easily with the integration’s real-time access to USDC via local banking institutions.
Circle, the issuer of USDC, issued two statements this week on the stablecoin market, which is seeing more mainstream use. A bridging version of USDC will be accessible on Sony’s new blockchain, Soneium, thanks to a cooperation with Sony Block Solutions Lab. With its blockchain, the Japanese behemoth aspires to become a household name throughout the world.
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