Circle set its sights on thriving Asian crypto markets

USDC issuer company is planning to expand its hands in the Asian region to expand the adoption of blockchain technology. 

Recently Jeremy Allaire- CEO of Circle firm- appeared in an interview with Bloomberg. In the interview, Jeremy shared the plan of the circle company to expand its ecosystem in Asian markets.

According to Jeremy, in the Asian markets, there are huge opportunities for crypto firms because people in Asia will easily adopt stablecoins against the increasing inflation. Further, he said that the inflation environment & yield will trigger the market to move towards stablecoins adoption. 

By taking the reference of the recent ‘interest-yielding offering’ of the circle company, Jeremy said: 

“While a lot of people want to focus on people hedging by buying Bitcoin directly, we think for stewards of capital within corporations and corporate treasurers and so on, that an allocation into stablecoin yield is going to be attractive.”

Jeremy said that they are starting their initiative with Singapore. In Singapore, they planned to launch Circle’s headquarter to establish a better relationship with the local financial regulators. For the Circle’s HQ, the company is hiring crypto players. With these, Circle aimed to become the first-ever licensed Stablecoins firm in Singapore, and also most of the business in the Asian region will rely on the stablecoin USDC. 

Circle welcomes regulation 

At present, Circle is the second biggest stablecoin issuer company and also the company is trying at its best to operate their stablecoins and crypto-related all the operations under compliance. 

Recently, Circle firm said that the company would like to see regulation on the stablecoins issuer companies just like Banks’. 

According to Circle company, we are in the initial phase of the crypto market. In the future, there will take place several trillions of transactions and that will increase challenges for the traditional economy and financial stability.

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