Taiwanese stablecoin infrastructure company OwlTing will be listed on the Nasdaq Global Market as one of the earliest Asian blockchain companies to be listed on a large U.S. exchange on Thursday.
The Class A shares of common stock of the company will commence trading on October 16, with the ticker symbol OWLS.
In a statement to Decrypt, OwlTing said, “The Nasdaq Global Market was selected for its higher financial, governance, and market-cap requirements, providing greater visibility and liquidity to global investors.”
It further stated that “This listing positions OwlTing as a regulated, institutional-grade partner in a sector often associated with volatility, underscoring our commitment to building a sustainable and trustworthy stablecoin infrastructure.”
It has appeared amid a fast-growing stablecoin sector, according to McKinsey, although daily transactions in the market are equivalent to over $30 billion, the ratio of total money around the world is less than one percent. Thus, analysts estimate that the circulation of stablecoins would be $2 trillion by 2028.
Stablecoin interest has increased, especially since the introduction of new regulatory frameworks, such as the U.S. GENIUS Act, to ensure the safety and transparency of digital currencies.
This week, the Stripe stablecoins division Bridge has petitioned the federal trust charter in the U.S., becoming the second company after Circle, Paxos, Ripple, and Coinbase to request federal banking trust status.
Meanwhile, Santander and other major international banks, including Santander, Barclays, Goldman Sachs, and UBS, have recently declared that they would consider an exploration of a G7 currency-backed stablecoin product.
The opportunity in the industry of the stablecoin, as defined by OwlTing, is “immense.” OwlTing was founded in 2010 and is based in Taipei; it started with e-commerce and hospitality before turning to blockchain-based payments.
OwlPay adds, “New global regulations… are creating a safer foundation for adoption. OwlPay is building infrastructure around regulated stablecoins to capture and help drive that growth, and establish them as the foundation of global cross-border payments.”
OwlTing recorded a revenue of $7.6 million in 2024, which is 18 percent higher than the previous year, and gross payment volume increased 62 percent to $218 million.
According to the company, the hospitality unit of the OwlNest has over 2,500 clients with a net dollar retention rate of 108 percent.
One-time listing costs impacted the net losses, but OwlTing predicted that the company would become profitable due to the growth of its stablecoin infrastructure and margins.
