Circle’s Nasdaq Listing
Circle is preparing for a listing on Nasdaq, marking yet another significant step for Web3 companies as they strive to gain footholds in the traditional U.S. capital markets. Circle, which oversees the issuance of USDC, joins the ranks of other players like Coinbase, who have previously made similar inroads.
Market Demand and Regulatory Compliance
Experts within the industry emphasize that there is a substantial appetite among traditional investors to gain exposure to cryptocurrencies. However, the number of Web3 firms that have managed to comply with regulatory standards and demonstrate viable valuations for public trading remains limited.
Backpack: A Strong Candidate
Amidst this landscape, Backpack emerges as a strong candidate poised to align with the expectations of the U.S. capital markets. Its strengths lie in a robust compliance framework, proper business registration, and a diversified product offering.
Optimism for Backpack’s Future
The market is optimistic about Backpack’s potential to evolve into a leading retail finance platform within the Web3 space, particularly given its impressive user growth and its business structure, which aligns well with the interests of Wall Street looking for credible and quantifiable cryptocurrency ventures.
