OwlTing, a stablecoin infrastructure company, will begin trading on the Nasdaq Global Select Market on Thursday. The company's Class A common stock is expected to begin trading on October 16 under the ticker symbol OWLS.

In 2024, OwlTing achieved revenue of $7.6 million, an 18% year-over-year increase, with total payment volume increasing 62% to $218 million. The company disclosed that its hospitality business unit, OwlNest, serves over 2,500 clients and has a net dollar retention rate of 108%. Although one-time listing costs impacted net profit, OwlTing stated that profitability is expected to increase as its stablecoin infrastructure scales and profit margins improve. (Decrypt)