Stablecoin Giant Circle Is Moving Its Headquarters to New York City

Circle, the issuer of the second-largest stablecoin, will move its global headquarters to New York City’s iconic One World Trade Center, where the cryptocurrency firm will occupy one of the top floors in what is the tallest building in the Western Hemisphere.

According to documents shared with CoinDesk, the move will be officially announced on Friday, and a ribbon-cutting ceremony will be held on Friday. New York Mayor Eric Adams will attend.

“This is not going to be an ‘office,’ it’s going to be a powerful convening space that our industry and global leaders will benefit from,” Circle said in publicity about the opening.

Circle declined to comment. Adams’ office never replied to a request for comment.

Adams has courted the crypto community and dreamed of making the city a major crypto hub. (Famously, his first paychecks as mayor were immediately converted into crypto.)

Read more: Can You Really Build a ‘Crypto Empire’ in the Empire State?

Standing on the site of the original World Trade Center, the new skyscraper, which is also known as the Freedom Tower, is currently the global headquarters of Condé Nast and home to firms like MDC Partners, Reddit, Code & Theory and BounceX.

Circle had announced plans to move its legal headquarters from Ireland to the U.S. ahead of its planned initial public offering. The company previously based its U.S. offices in Boston.

Circle’s USDC, the second-largest stablecoin behind Tether’s USDT, has a market cap of $34 billion and a 24-hour trading volume of $6.37 billion, according to CoinDesk price data.