Taiwanese stablecoin infrastructure firm OwlTing will start buying and selling on the Nasdaq World Market on Thursday, making its debut as one of many first Asian blockchain firms to record instantly on a significant U.S. change.
The corporate’s Class A standard inventory is anticipated to start buying and selling on October 16 below the ticker image OWLS.
“Nasdaq World Market was chosen as a result of it has greater monetary, governance and market capitalization necessities and might present larger visibility and liquidity to international buyers,” Oultin mentioned in a press release. decryption.
“This itemizing positions OwlTing as a regulated, institutional-grade companion in an typically unstable area and underscores our dedication to constructing a sustainable and dependable stablecoin infrastructure.”
This comes amid fast growth of the stablecoin trade. Whereas the each day buying and selling of the market takes place, hovering In keeping with McKinsey, stablecoins have round $30 billion in circulation, lower than 1% of whole international capital flows, however analysts predict that by 2028, stablecoins in circulation may attain $2 trillion.
Curiosity in stablecoins has notably elevated following new regulatory frameworks such because the US GENIUS Act. aimed Contribute to creating digital currencies safer and clear.
Simply this week, Stripe’s stablecoin arm Bridge utilized We’re searching for federal financial institution belief approval together with Circle, Paxos, Ripple, and Coinbase to acquire the U.S. Federal Belief Constitution.
In the meantime, a coalition of main worldwide banks together with Santander, Barclays, Goldman Sachs and UBS lately introduced that introduced The corporate plans to contemplate stablecoin merchandise backed by G7 currencies.
OwlTing mentioned the alternatives within the stablecoin trade are “large.” Based in 2010 and headquartered in Taipei, OwlTing initially operated within the e-commerce and hospitality sectors earlier than pivoting to blockchain-based funds.
“New international laws…are making a safer foundation for implementation,” he mentioned. “OwlPay is constructing an infrastructure round a regulated stablecoin to seize and speed up its development and set up itself as the muse for international cross-border funds.”
In 2024, OwlTing reported income of $7.6 million, up 18% year-over-year, with whole fee quantity growing 62% to $218 million. The corporate mentioned its hospitality division, OwlNest, serves greater than 2,500 clients and achieved a internet greenback retention price of 108%.
Though the online loss was impacted by one-time itemizing prices, OwlTing mentioned it expects profitability to strengthen because the stablecoin infrastructure scales and margins increase.
