In a notable development for the crypto industry, Circle, the issuer of the second-largest stablecoin USDC, is reportedly relocating its global headquarters to New York City’s iconic One World Trade Center.
The official announcement is set to take place on Friday, with a “ribbon-cutting” ceremony to be attended by New York Mayor Eric Adams, who has long advocated for the city to become a major hub for the crypto industry.
Circle will occupy one of the top floors of One World Trade Center, the tallest building in the Western Hemisphere, providing the company with a high-profile base for its expanding operations.
The report reported that Circle described its new headquarters as more than just an office but as a “powerful convening space” that will serve as a resource for the industry and global leaders.
The move follows Circle’s earlier decision to shift its legal headquarters from Ireland to the US, a strategic move as the company prepares for its upcoming Initial Public Offering [IPO].
The timing of the relocation and the IPO filing suggests that Circle might be strategically aligning its operations to meet the demands of both regulators and investors.
Circle’s private stock is estimated to be worth between $5 billion and $5.25 billion. As recently reported by blocmates, the USDC issuer is reportedly allowing “some trading” of its shares on the secondary market. That is, however, being done on a “case-by-case basis and only in specific situations.”
Circle filed for its public listing in the US in January this year. The IPO is expected to take place after the Securities and Exchange Commission [SEC] wraps up its review process.
New York City — already home to major players in finance and tech, including companies like Reddit and MDC Partners — is poised to play a central role in Circle’s future.
