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Stablecoin Development HQ shifts from California to West Palm Beach

The company ended its California lease and set up its headquarters at 222 Lakeview Ave., Suite 800, after rebranding from NovaBay Pharmaceuticals to pursue cryptocurrency.

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Stablecoin Development Corp., formerly NovaBay Pharmaceuticals, has moved its headquarters from California to West Palm Beach, according to its second-quarter financial results filed with the U.S. Securities and Exchange Commission, Bisnow reports. The filing says the company terminated its California lease and relocated to Suite 800 at 222 Lakeview Ave. in West Palm Beach, where an Industrious coworking location occupies the floor. Stablecoin Development rebranded in March as it shifted toward cryptocurrency, after previously developing products including eyecare, skincare and wound care, according to the SEC filing cited by Bisnow. As of the end of July, the company said it held nearly $2.3 billion in Sky tokens, about 10% of the asset’s market share. The office building at the center of the move, the 17-story Esperanté Corporate Center, is owned by Ross, JZ Capital Partners and Greenmont Group, and the property was refinanced with $145 million from Hudson Bay Capital Management in March, Bisnow adds.

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