Circle is paying close attention to Hong Kong as the jurisdiction's seemingly more friendly disposition toward crypto firms garners interest from industry.
Allaire says Asia is a “huge area of focus.”Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Circle is joining the growing list of crypto firms setting their sights on Asia.
The company, which is best known for launching the stablecoin USDC, is paying close attention to regulatory developments in Hong Kong, chief executive officer Jeremey Allaire said during an interview with Bloomberg Television at the World Economic Forum in Tianjin, China., was historically an epicenter for crypto firms with BitMEX and Bitfinex historically having a big presence in the region. The ongoing U.S. crackdown on crypto firms appears to be providing a fresh appeal for the jurisdiction.
"Hong Kong is clearly looking to establish itself as a very significant center for digital assets markets and stablecoins and we are paying very close attention to that," Allaire told Bloomberg, adding that Asia is a"huge area of focus." "We see enormous demand for digital dollars in emerging markets and Asia is really center of that," Allaire said.
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