Circle, a stablecoin issuer, intends to move its headquarters to Wall Street in 2025 and is preparing for a first public offering (IPO). Notwithstanding these endeavors, Circle remains subordinate to Tether, the industry leader, which commands a 70% share.
Tether has designated Jesse Spiro, the former director of regulatory relations for blockchain and cryptocurrency at PayPal, as the head of government affairs.
The USDC stablecoin, linked to the US dollar, has been integrated into Circle’s network of national payment systems in Mexico and Brazil, encompassing real-time payment services SPEI and PIX.
This connection enables enterprises in both nations to utilize USDC for transactions in lieu of international wire transfers, potentially reducing settlement times. Businesses can now facilitate cross-border transactions more efficiently with immediate access to USDC through local banking institutions.
Circle released two remarks regarding the stablecoin market, emphasizing its increasing mainstream use and proposing a bridging version of USDC on Sony’s own blockchain, Soneium, in partnership with Sony Block Solutions Lab.
