Chen Qinqi, vice president of USDC issuer Circle Asia Pacific, said that Circle currently has no plans to issue Hong Kong-denominated stablecoins, mainly issuing two products: US dollar stablecoin USDC and euro stablecoin EURC.
In terms of its presence in Asia, Circle has been granted a major payment institution license in Singapore, allowing professional investors to obtain USDC directly from Circle. In Japan, USDC is the first stablecoin that the regulator allows licensees to offer to the public.
Regarding the Hong Kong business, Chen Qinqi revealed that Circle currently does not have an office in Hong Kong and will continue to evaluate the office location. Circle is open to cooperating with Hong Kong dollar stablecoins and has discussed with a number of companies to share its expertise. Chen Qinqi expects more stablecoins denominated in different currencies to emerge in the future, but emphasizes that there is a huge global demand for US dollars, with 75% of trade in Asia denominated in US dollars.
Circle has no plans to issue local stablecoins in Hong Kong
2025-10-13 03:28:55
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