Jeremy Allaire, CEO and co-founder of Circle, sees Hong Kong as an important market for their stablecoin, USDC. Circle plans to expand its presence in Hong Kong, potentially hiring more staff and establishing local operations. However, they are waiting for clarity on Hong Kong's stablecoin regulations before deciding if they will pursue a license. Hong Kong is becoming a crypto hub and will introduce new laws and regulations to expand its crypto market. They will also launch a Virtual Asset Index Series and establish a clear regulatory framework for the stablecoin industry. Circle's Asia Pacific Vice President expressed confidence in Hong Kong's stablecoin market, highlighting benefits such as same-day USD settlement and its position as the largest capital market in the Asia-Pacific region. Circle plans to integrate Hong Kong into their global stablecoin network, aiming to reduce transaction costs and increase the speed of market trading. They expect to establish a significant presence in the city, utilizing its growing Web3 ecosystem for trade settlements.



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