Circle plans to relocate its legal base from the Republic of Ireland to the United States

ChainCatcher news, the second largest stablecoin issuer in cryptocurrency, Circle Internet Financial Ltd., plans to move its legal base from the Republic of Ireland to the United States. A company spokesperson confirmed on Tuesday that it recently submitted relocation documents to the court but declined to disclose the reasons.

Circle secretly submitted its initial public offering plan to U.S. securities regulators in January. Under this transition, Circle may face heavier U.S. taxes.

According to the Web3 asset data platform RootData, Circle is a global fintech company that enables businesses of all sizes to leverage the power of digital currencies and public blockchains for payments, commerce, and financial applications worldwide. Circle is the issuer of USD Coin (USDC), one of the fastest-growing dollar digital currencies, powering always-on internet-native commerce and payments. Today, Circle's trading services, business accounts, and platform APIs are giving rise to a new generation of financial services and business applications, which are expected to promote global economic prosperity through frictionless financial value transactions.