Circle Internet Financial, the company behind the world’s second-largest stablecoin USDC/USD, is set to move its headquarters from Ireland to the United States.
What Happened: While the specific reason for the move remains undisclosed, the company confirmed the filing of legal paperwork to facilitate the relocation, Bloomberg reported.
This news comes as the broader cryptocurrency market experiences a resurgence, with USDC’s circulation rebounding from a low of $24 billion earlier this year to its current value of $33 billion.
This recovery mirrors the positive trend in the crypto space overall.
Shifting its legal base to the U.S. could expose Circle to higher taxes compared to Ireland’s historically low corporate tax rates, which have attracted major corporations like Apple and Pfizer.
However, recent reforms by the Organization for Economic Cooperation and Development (OECD) introducing a minimum 15% tax on the profits of large…
