In brief
OwlTing announced Tuesday it will begin trading on the Nasdaq on Thursday.
The company chose a direct listing to emphasize transparency and avoid shareholder dilution.
The move follows heightened global regulatory focus and growing institutional interest in stablecoins.
Taiwanese stablecoin infrastructure company OwlTing will commence trading on the Nasdaq Global Market on Thursday, marking its debut as one of the first Asian blockchain firms to list directly on a major U.S. exchange.
The company’s Class A common shares are expected to begin trading on October 16, under the ticker symbol OWLS.
“The Nasdaq Global Market was selected for its higher financial, governance, and market-cap requirements, providing greater visibility and liquidity to global investors,” OwlTing said in a statement to Decrypt.
“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 comes amid rapid expansion in the stablecoin industry. While the market’s daily transactions hover around $30 billion, less than one percent of total global money flows, analysts project stablecoin circulation could reach $2 trillion by 2028, according to McKinsey.
Interest in stablecoins has particularly surged following new regulatory frameworks, including the U.S. GENIUS Act, aimed at making digital currency safer and more transparent.
Just this week, Stripe’s stablecoin arm Bridge applied for a federal trust charter in the U.S., joining Circle, Paxos, Ripple, and Coinbase in their attempts to obtain federal banking trust approval.
Meanwhile, a coalition of major international banks, including Santander, Barclays, Goldman Sachs, and UBS, recently announced plans to explore a G7 currency-backed stablecoin product.
OwlTing described the opportunity in the stablecoin industry as “immense.” Founded in 2010 and headquartered in Taipei, OwlTing initially operated in e-commerce and hospitality before pivoting to blockchain-based payments.
“New global regulations… are creating a safer foundation for adoption,” it said. “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.”
In 2024, OwlTing reported $7.6 million in revenue, up 18% year-on-year, with gross payment volume rising 62% to $218 million. The company’s hospitality unit, OwlNest, serves over 2,500 clients and achieved a 108% net dollar retention rate, according to the company.
Although net losses were affected by one-time listing costs, OwlTing said it expects profitability to strengthen as its stablecoin infrastructure scales and margins expand.
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