Circle, the issuer of the USDC stablecoin, is set to expand its workforce by up to 25%, according to reports.
Despite canceling its deal to go public with Concord Acquisition due to missed deadlines for filing documents with the Securities and Exchange Commission, Circle is confident in its financial position, having raised about $400 million in funding to bring its total funding to $1.1 billion.
Circle’s finance chief Jeremy Fox-Green confirmed the additional hires, stating that the company plans to bring in an extra 225 workers to its 900-member team.
The expansion is part of Circle’s plans to grow its operations beyond stablecoin issuance, including settling trades in other asset classes.
While the company still intends to go public in the near future, it is waiting for better market conditions and remains compliant with U.S. regulators.