Circle increases its presence in Southeast Asia, planning to hire employees and develop business in Hong Kong against the backdrop of the stable coin USDC 💼

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Circle plans to strengthen its presence in Southeast Asia, focusing on Hong Kong for business expansion. According to information from November 4, the company intends to hire more employees and establish new business relationships in the region.

Circle's CEO, Jeremy Allaire, noted that stable coins like USDC play an important role in Hong Kong's trading practices. The HKMA plans to implement regulations for stable coins by 2025. Local companies are already utilizing stable coins; for example, First Digital Trust launched the FDUSD token on Solana.

Hong Kong is becoming a crypto-friendly jurisdiction despite its ties to China. Circle has also introduced a white paper for the Confidential ERC-20 standard, ensuring user privacy and compliance.

This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.

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