Circle, issuer of USDC—the world’s second-largest stablecoin—is reportedly advancing its expansion into Hong Kong to strengthen its presence in Asia ahead of an upcoming IPO. With this move, Circle seeks to make Hong Kong a key hub for cryptocurrency activity across Asia, aligning with its broader regional growth plans. The Hong Kong government, as reported by local media HKEJ on Monday, plans to introduce a stablecoin regulatory framework to the Legislative Council before the end of the year. This development has drawn attention from major stablecoin issuers, including Circle, which sees Hong Kong as a crucial market for USDC’s growth strategy.
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