Circle is getting into an settlement with a Hong Kong telecommunications agency with the intention of constructing blockchain-based options for the Asia-based firm.
The USDC stablecoin issuer says it’s signing a memorandum of understanding with the expertise, media and telecommunications agency HKT to “discover a possible collaboration in growing blockchain-based buyer loyalty options for retailers in Hong Kong.”
“Leveraging Circle’s experience in Web3 Companies and HKT’s intensive service provider ecosystem and buyer engagement capabilities, the 2 corporations intention to develop buyer loyalty options backed by Web3 expertise that may improve how customers uncover and have interaction with retailers, fostering extra social and dynamic engagement experiences.”
Circle says its suite of instruments for growing blockchain-based options consists of its programmable wallets that allow the usage of crypto belongings and sensible contracts safely and simply.
Information of the potential collaboration between Circle and HKT comes amid a latest report that the stablecoin issuer stays dedicated to a public itemizing greater than a yr after the preliminary try.
Circle CEO Jeremy Allaire stated,
“We expect we generally is a actually attention-grabbing firm in public markets… We’re in a financially sturdy place and have been in a position to construct a really stable enterprise, and we’re at the moment not looking for any funding.”
The stablecoin big had initially deliberate to go public by utilizing a clean examine firm in July of 2021 when it introduced a proposal to merge with listed particular goal acquisition firm Harmony Acquisition. Circle and Harmony Acquisition, nevertheless, terminated the deal in December of 2022.
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