- Circle has announced a new partnership in Hong Kong.
- The move is part of the company’s push into the Web3 services market.
- Circle is keen on exploring blockchain-powered customer loyalty solutions.
USDC issuer Circle has signed a Memorandum of Understanding (MOU) with media and telecommunication giant HKT to explore a potential partnership in building blockchain-based loyalty solutions for Hong Kong-based merchants.
The development underscored Circle’s commitment to pushing blockchain-based technology to the mainstream through Web3 services. It came after the company launched a programmable wallet-as-a-service developer platform in July last year and a smart contract platform three months later to streamline Web3 development.
Circle Pushes Deeper into Web3
According to a press release on October 29, the MOU might lead to collaboration that will leverage Circle’s expertise in Web3 services and HKT’s broad merchant ecosystem and customer engagement capabilities to develop modern customer loyalty solutions.
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The solutions will be backed by Web3 technology, enabling customers to discover new ways of interacting with merchants and creating more social and dynamic engagement experiences.
Circle co-founder Jeremy Allaire lauded the development, noting that it positioned the stablecoin issuer to position Web3 at the forefront of customer loyalty innovation.
“This collaboration is a testament to our commitment to helping businesses unlock the potential of blockchain technology to create value-driven customer experiences, redefining loyalty programs and providing merchants with the tools they need to thrive in the digital economy,” Allaire stated.
Per the statement, the key components of Circle’s Web3 Services that will be used for the customer loyalty solutions include its programmable wallets, which allow startups and established companies to integrate digital assets and smart contracts with their existing consumer and enterprise applications.
Read about Circle’s move to set up its new HQ in New York City:
Circle Plants Its Flag in NYC for New HQ Ahead of Planned IPO
Stay updated on Circle’s USDC debut in Brazil and Mexico:
Circle’s USDC Debuts in Brazil and Mexico via National Payment Systems
