Circle is aggressively pursuing its plans for a 2025 IPO

Stablecoin issuer Circle is aggressively moving forward with its plans for an initial public offering (IPO) on Wall Street in 2025, where it plans to relocate its headquarters.Circle filed its IPO application with the U.S. Securities and Exchange Commission in January of this year, pending approval. In an effort to strengthen the market position of its stablecoin, USDC, Circle has recently integrated USDC with the national payment systems of Brazil and Mexico, allowing businesses in both countries to access USDC in real time through local financial institutions without the need for international wire transfers, thus speeding up the settlement of cross-border transactions. Despite Circle's expansion, its market share continues to be suppressed by Tether (USDT), which currently holds more than 70 per cent of the market, compared to USDC's 20 per cent. Meanwhile, Tether has hired Jesse Spiro, former head of regulatory relations for PayPal's blockchain business, to further bolster its government affairs team. This series of moves by Circle is aimed at boosting its competitiveness in the stablecoin market, especially in the fast-growing digital dollar ecosystem.