The chief executive of stablecoin issuer Circle (USDC) says that the firm is moving its headquarters to New York City.
In a new thread on the social media platform X, Circle CEO Jeremy Allaire says that the company is moving to New York from Boston to immerse itself in the world of Wall Street as blockchain technology becomes more intertwined with the financial system.
[adinserter block="1"]“As this technology explodes into the mainstream, and as Circle becomes a more and more important company and infrastructure for this new internet financial system, it became clear that we needed to plant our flag, both literally and figuratively, in the heart of Wall Street, in the most important economic center of the world, and in the great country of the USA.”
Allaire says the firm is making the move to NY despite concerns that the US government is hostile toward the digital assets industry. He says that the US is on the brink of becoming the biggest player in the global crypto revolution.
“Many complain that the United States is not the right jurisdiction to build a company in our industry and that the current government here remains hostile to this industry. I couldn’t disagree more. My view is that we are at a turning point and that the US is about to become THE decisive leader in building and supporting this technology and financial revolution.”
According to a report by Reuters, the firm is making its move after confidentially filing for an initial public offering (IPO) earlier this year.
Earlier this month, Allaire announced that the crypto industry is harboring surprises in the form of unexpected developments. At the time, Allaire said that the blockchain industry is in the same state the internet was in the early 2000s and that a massive wave of innovation is over the horizon.
“When Web 2.0 kicked in, which was starting in like 2003, and really scaled out from there. That’s actually where I think crypto is right now. So I think the vast majority of the surprises are going to come from applications and broader utility… I just think we’ll see a lot more surprises. A lot more surprises to come.”
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