The CEO of stablecoin issuer Circle (USDC) said the company is moving its headquarters to New York.
In a new thread on social media platform X, Circle CEO Jeremy Allaire says the company is moving from Boston to New York to immerse itself in the world of Wall Street as blockchain technology becomes increasingly intertwined with the financial system.
“As this technology becomes more mainstream and Circle becomes an increasingly important business and infrastructure for this new Internet financial system, it became clear that we needed to plant our flag, literally and figuratively, in the heart of Wall Street, in the most important economic center in the world and in the great country of the United States.”
Allaire says the company is setting up shop in New York despite concerns about U.S. government hostility toward the digital asset industry. He says the U.S. is poised to become the biggest player in the global cryptocurrency revolution.
“Many complain that the United States is not the most appropriate country to start a business in our sector and that the current government remains hostile to this sector. I could not disagree more. I believe that we are at a turning point and that the United States is about to become THE decisive leader in building and supporting this technological and financial revolution.”
According to a Reuters report, the company is making the move after confidentially filing for an initial public offering (IPO) earlier this year.
Earlier this month, Allaire announced that the cryptocurrency industry is full of surprises in the form of unexpected developments. At the time, Allaire said that the blockchain industry was in the same state as the internet was in the early 2000s, and that a massive wave of innovation was on the horizon.
“Web 2.0 came along, in 2003, and it grew from there. That’s where I think crypto is right now. So I think the vast majority of the surprises are going to come from the applications and the broader utility… I just think we’re going to see a lot more surprises. A lot more surprises to come.”
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