According to Cointelegraph, stablecoin issuer Circle announced that it will move its global headquarters to New York City, which is scheduled to be completed in early 2025. Circle will occupy one of the top floors of 1 World Trade Center.

Circle co-founder and CEO Jeremy Allaire announced the news in an X post on September 13. He said the move is aimed at promoting the development of a decentralized internet and expanding the functionality of the dollar.

Circle filed for an IPO in January 2024, which is expected to proceed after SEC approval. Allaire believes that 2024 is a turning point for cryptocurrencies, and that stablecoins will enter the mainstream in 2025.

Despite the controversial regulatory environment for digital assets in the United States, Allaire expects the U.S. to become a global leader. However, the 2024 presidential election could bring uncertainty to cryptocurrency regulation.