Circle, one of the largest stablecoin companies, has announced an effective immediate decision to cease minting USDC on the TRON network as part of its strategic efforts to go public in the United States. At the same time, a transition phase was announced to make the process easier for customers.
Severing ties with Tron to increase trust in USDC
Circle's decision reflects its desire to preserve its currency. USDC As a reliable, transparent and secure digital dollar currency. According to A Circle representative explained “As part of our risk management framework, Circle continually evaluates the suitability of all blockchain networks that support our currency,” he said. USDC On her.
Protect USDC Users
For Circle Mint clients, the company will facilitate the transfer of USDC to other blockchains until February 2025. Additionally, users can exchange USDC to TRON for fiat currencies directly on Circle.
Regarding coin holders USDC From individuals and clients not affiliated with Circle. They can transfer USDC between blockchain networks or exchange it for fiat currencies through global services, including trading platforms and brokers.
The decision is in line with the growth and IPO strategy.
The company's decision to issue USDC is consistent with its broader growth strategy and IPO ambitions. I've been thinking about an IPO since last year. Circle held a confidential IPO in the US last week.
While no specific details were disclosed, the measure appears to represent a step toward meeting regulatory standards.
The press statement concluded with the words: “Our decision to end support for the currency.” USDC The Tron network is the result of a comprehensive, enterprise-wide approach. Includes business, compliance and other functions within our company.
This shift follows the path paved by other cryptocurrency companies such as Coinbase. Cryptocurrency organizations are established as established companies registered to trade in the United States.
Circle said: The IPO is expected to occur after the U.S. Securities and Exchange Commission completes its review process, subject to market conditions and other conditions.
USDC is the second largest stablecoin after USDC USDT A subsidiary of Teeter, it holds an important position in the digital currency market. With a market value of $26.8 billion, it is a currency. USDC Almost 20% dominance in the stablecoin market.
Together, these two stablecoins control almost 90% of the total stablecoin market share.
Circle's strategic shift and IPO plans reflect a tangible shift in the cryptocurrency sector, where regulatory compliance, market stability and institutional adoption are becoming increasingly important.
This move strengthens USDC's position as the leading regulated digital dollar currency and sets a precedent for the future of cryptocurrency companies in the public market.
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