Circle President: Going public is to demonstrate the openness of funds, and we will not compete with banks but seek cooperation

ChainCatcher news, according to Yahoo Finance, Circle President and former CFTC Chairman Heath Tarbert stated in an interview with Yahoo Finance that when Circle launched USDC from 2017 to 2018, it aimed to create a new type of base currency layer that could circulate at internet speed for the internet and to ensure its lasting existence. As a publicly traded company in the U.S., going public and subjecting Circle to the highest standards of transparency and corporate governance is an important part of its identity and is seen as a necessary next step by Circle.

Compared to traditional financial institutions, Circle is a neutral platform that possesses both the compliance genes of traditional financial services and the ethos of Web3. Banks are ideal partners for Circle and will not compete with them. Going public also signals to banks and tech companies that their funds are now open, and with the recognition of regulators, they can engage with Circle in significant ways.