Stablecoin Issuer Circle to Move Legal Headquarters from Ireland to the US

Circle Internet Financial Ltd, the stablecoin issuer, has filed to move its legal base from Ireland to the United States. The reason for the decision has not been disclosed by the company spokesperson. The move may result in higher taxes for Circle as Ireland has a lower tax rate than the US. Circle has filed for an initial public offering (IPO) with the United States Securities and Exchange Commission (SEC) and has partnerships with Visa, BlackRock, and MoneyGram. USDC, Circle's stablecoin, has seen an increase in transaction volume and market share, potentially due to its partnership with payment giant Stripe.