Circle President: Going public to demonstrate the openness of funds to banks and tech companies, not to compete with them

According to Yahoo Finance, Heath Tarbert, President of Circle and former CFTC Chairman, stated in a recent interview that when Circle launched $USDC in 2017-2018, it aimed to create a new type of foundational currency layer that could circulate at internet speed and be sustainable for the internet.

As a U.S.-listed company, going public and subjecting Circle to the highest standards of transparency and corporate governance is an important part of its identity and the next step Circle deems necessary.

Compared to traditional financial institutions, Circle is a neutral platform with both the compliance genes of the traditional financial services sector and the ideals of Web3. Banks are Circle's ideal partners and will not compete with them. Going public also demonstrates to banks and tech companies that their funds are now open and, with the approval of regulatory bodies, they can engage in significant business with Circle in important ways.