Circle has signed an agreement with a Hong Kong telco to build a blockchain-based solution for the Asia-based company.
The USDC stablecoin issuer said it had signed a memorandum of understanding with technology, media and telecommunications company HKT to “explore potential collaboration in developing blockchain-based customer loyalty solutions for Hong Kong merchants.” Ta.
“By leveraging Circle’s expertise in Web3 services and HKT’s extensive merchant ecosystem and customer engagement capabilities, both companies will enhance the way consumers discover and engage with merchants, creating more social and dynamic engagement. We aim to develop customer loyalty solutions backed by Web3 technology that drive experiences.
Circle says its suite of tools for developing blockchain-based solutions includes a programmable wallet that makes using crypto assets and smart contracts secure and easy.
News of a potential collaboration between Circle and HKT comes amid recent reports that the stablecoin issuer continues to pursue a listing more than a year after its first attempt.
Circle CEO Jeremy Allaire said:
“We think we can be a very interesting company in the public markets… We are in a strong position financially and have been able to build a very solid business. We are not currently seeking funding. No.”
The stablecoin giant originally planned to go public using a blank check company in July 2021, when it announced a proposed merger with publicly traded special purpose acquisition company Concord Acquisition. However, Circle and Concord Acquisition terminated their agreement in December 2022.
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