International Support For USDC Minting And Redemption Expanded To 185 Countries

Key Points:

• Circle expands international support for USDC in 185 countries, up from 88, facilitating wider minting and redemption.
• The company submits a confidential S-1 form to the SEC, a common step for companies preparing for public offerings.
• Circle achieves conditional registration from France’s AMF, positioning itself as a digital asset service provider in the EU market.

In a significant development, Jeremy Allaire, co-founder and CEO of Circle, the stablecoin issuer, announced an expansion in international support for USDC minting and redemption.

The service, which initially covered 88 countries, has now broadened its reach to encompass 185 countries.

Circle took another noteworthy step towards growth by confidentially submitting a registration draft statement S-1 form to the U.S. Securities and Exchange Commission (SEC).

This strategic move, commonly employed by companies preparing to go public, allows them to finalize plans away from the public eye. The details regarding share quantity and pricing are yet to be determined, awaiting SEC review and subject to market and other conditions.

The expansion of international support for USDC is seen as a pivotal move in the company’s strategy. Last month, Circle achieved conditional registration as a digital asset service provider (DASP) from France’s Financial Markets Authority (AMF).

This regulatory approval in the European Union’s second-largest economy positions Circle favorably as crypto companies seek environments with clearer regulatory frameworks compared to the US.

Circle’s USDC, a dollar-pegged stablecoin, holds the distinction of being the second-largest in market cap, trailing only Tether’s USDT. Notably, Circle also issues EURC, a stablecoin pegged to the euro.

The company boasts notable investors, including financial heavyweights such as Goldman Sachs, Fidelity, and BlackRock. As Circle continues to navigate regulatory landscapes and expand its global footprint, the move to enhance international support for USDC signifies a pivotal step in the company’s trajectory.