Stablecoin Issuer Circle to Make US Legal Home Ahead of Listing

Circle Internet Financial Ltd., issuer of crypto’s second-largest stablecoin, plans to shift its legal base to the US from the Republic of Ireland.

A company spokesperson confirmed Tuesday that court paperwork was recently filed to re-domicile but declined to say why. Circle in January confidentially submitted plans to the US securities regulator for an initial public offering.

Circle may face more onerous US taxes under the shift. Ireland’s relatively low corporate levies wooed the likes of Apple Inc. and Pfizer Inc., but some of that advantage is being eroded by Organization for Economic Cooperation and Development reforms that ...