Circle Expands Staff Ahead of IPO

Circle, the issuer of the USDC stablecoin, is not following the layoff trend in the market. Instead, it expanded its staff ahead of its initial public offering (IPO) in the US.

According to a Bloomberg report, Circle has expanded its staff by 15%, adding 137 new workers so far this year. It reportedly plans to add a similar number of positions in the upcoming months.

The increase in staff comes after the company announced its plans to relocate its headquarters from Ireland to the US ahead of a proposed IPO filed and submitted to the Securities and Exchange Commission (SEC) in January.

Circle Expands Workforce

Circle is the second-largest stablecoin issuer, only surpassed by Tether (USDT). The company has expanded its workforce and been particularly keen to work with multiple crypto protocols and integrate new technologies.

For instance, the company integrated USDC into zkSync, one of the largest Ethereum-based layer-2 solutions. This provides several advantages, such as institutional support for qualified users and seamless incorporation into current decentralized applications (dApps).

Similarly, CryptoMode reported that Circle announced a partnership with Coincheck, a strategic move into Asia, specifically in the Japanese market.