In short
- OwlTing introduced Tuesday it’ll 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 International Market on Thursday, marking its debut as one of many first Asian blockchain corporations to listing immediately on a serious U.S. alternate.
The corporate’s Class A standard shares are anticipated to start buying and selling on October 16, underneath the ticker image OWLS.
“The Nasdaq International Market was chosen for its increased monetary, governance, and market-cap necessities, offering better visibility and liquidity to international buyers,” OwlTing mentioned in a press release to Decrypt.
“This itemizing positions OwlTing as a regulated, institutional-grade companion in a sector typically related to volatility, underscoring our dedication to constructing a sustainable and reliable stablecoin infrastructure.”
It comes amid fast enlargement within the stablecoin trade. Whereas the market’s each day transactions hover round $30 billion, lower than one % of whole international cash flows, analysts challenge stablecoin circulation might attain $2 trillion by 2028, in accordance with McKinsey.
Curiosity in stablecoins has significantly surged following new regulatory frameworks, together with the U.S. GENIUS Act, aimed at making digital foreign money 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, not too long ago introduced plans to discover a G7 currency-backed stablecoin product.
OwlTing described the chance within the stablecoin trade 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 rules… 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 muse of world cross-border funds.”
In 2024, OwlTing reported $7.6 million in income, up 18% year-on-year, with gross fee quantity rising 62% to $218 million. The corporate’s hospitality unit, OwlNest, serves over 2,500 shoppers and achieved a 108% internet greenback retention charge, in accordance 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 increase.
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