Circle Plans Expansion In Hong Kong Amid New Stablecoin Regulations

According to Foresight News, Circle's co-founder and CEO, Jeremy Allaire, has highlighted Hong Kong as a significant market for USDC. The company is considering hiring more staff and establishing operations in the region. Circle is currently awaiting the release of new stablecoin regulations in Hong Kong before deciding on applying for a license. Additionally, Circle's Vice President for the Asia-Pacific region, Chen Qinqi, emphasized Hong Kong's advantages in developing stablecoins. These include the ability to achieve same-day USD settlement and being the largest capital market in the Asia-Pacific region. Chen believes that there will be substantial market demand for a Hong Kong version of stablecoins.