According to TechFlow, The Block reported that the parent company of Circle, the issuer of USDC stablecoin, has recently submitted the required documents to the High Court of the Republic of Ireland to re-establish the company's headquarters.

The specific reasons for Circle's relocation have not been announced, but its potential initial public offering may be one of the reasons. In January of this year, Circle confidentially filed for an initial public offering of its equity securities, planning to become a public company. The company confidentially filed a draft registration statement on Form S-1 with the U.S. Securities and Exchange Commission.