In short
- OwlTing introduced Tuesday it can start buying and selling on the Nasdaq on Thursday.
- The corporate selected a direct itemizing to emphasise transparency and keep away from shareholder dilution.
- The transfer follows heightened international regulatory focus and rising institutional curiosity in stablecoins.
Taiwanese stablecoin infrastructure firm OwlTing will start buying and selling on the Nasdaq World Market on Thursday, marking its debut as one of many first Asian blockchain companies to listing instantly on a significant U.S. alternate.
The corporate’s Class A standard shares are anticipated to start buying and selling on October 16, below the ticker image OWLS.
“The Nasdaq World Market was chosen for its greater monetary, governance, and market-cap necessities, offering larger visibility and liquidity to international buyers,” OwlTing mentioned in a press release to Decrypt.
“This itemizing positions OwlTing as a regulated, institutional-grade accomplice in a sector usually related to volatility, underscoring our dedication to constructing a sustainable and reliable stablecoin infrastructure.”
It comes amid fast growth within the stablecoin business. Whereas the market’s day by day transactions hover round $30 billion, lower than one p.c of whole international cash flows, analysts venture stablecoin circulation might attain $2 trillion by 2028, in keeping with McKinsey.
Curiosity in stablecoins has notably surged following new regulatory frameworks, together with the U.S. GENIUS Act, aimed at making digital forex safer and extra clear.
Simply this week, Stripe’s stablecoin arm Bridge utilized for a federal belief constitution within the U.S., becoming a member of Circle, Paxos, Ripple, and Coinbase of their makes an attempt to acquire federal banking belief approval.
In the meantime, a coalition of main worldwide banks, together with Santander, Barclays, Goldman Sachs, and UBS, just lately introduced plans to discover a G7 currency-backed stablecoin product.
OwlTing described the chance within the stablecoin business as “immense.” Based in 2010 and headquartered in Taipei, OwlTing initially operated in e-commerce and hospitality earlier than pivoting to blockchain-based funds.
“New international laws… are making a safer basis for adoption,” it mentioned. “OwlPay is constructing infrastructure round regulated stablecoins to seize and assist drive that progress, and set up them as the inspiration of world cross-border funds.”
In 2024, OwlTing reported $7.6 million in income, up 18% year-on-year, with gross cost quantity rising 62% to $218 million. The corporate’s hospitality unit, OwlNest, serves over 2,500 purchasers and achieved a 108% internet greenback retention charge, in keeping with the corporate.
Though internet losses had been affected by one-time itemizing prices, OwlTing mentioned it expects profitability to strengthen as its stablecoin infrastructure scales and margins broaden.
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