Circle’s Points-to-Crypto Feature to Enhance Web3 in Taiwan

A new partnership forms in Taiwan as Circle, BitoGroup, and FamilyMart unite to revolutionize cryptocurrency access.

by Grace Abidemi. Fact checked by: Ciaran Lawler, Editor: Nazar Kuzmyn

Published: October 26, 2023 │ 3:45 PM GMT

Circe joins two prominent Taiwanese entities to improve cryptocurrency functionality.
The three firms unveil a new digital currency feature.
The collaboration will bring new improvements to the Taiwanese cryptocurrency market.

Taiwan has emerged as a key player in the Asian cryptocurrency landscape, with the rollout of accommodating regulatory guidelines for the industry and asset class.

Leading USDC stablecoin issuer Circle Internet Financial has announced it has teamed up with top Taiwanese financial entities to lower the barrier to engaging in the digital economy for the Taiwanese market.

Points-to-Crypto Service: Democratizing Access to Cryptocurrencies

In an October 26th press release, Circle announced a new partnership with Taiwan cryptocurrency market leader BitoGroup and Taiwan FamilyMart, the nation’s second-largest convenience store chain.

Sponsored

The partnership will introduce a new ‘Points-to-Crypto’ feature, which expands the utility and value of FamilyMart loyalty points, known as FamiPoints, by allowing users to convert them into digital currencies like USDC.

Customers can specify the amount of FamiPoints they want to convert on the Taiwan FamilyMart App and link their BitoPro Exchange account to receive their chosen digital currency. The feature will incur zero transaction fees and prevent value loss in loyalty points over time.

Vice President of Asia Pacific for Circle, Raagulan Pathy, stated, “Circle is excited to partner with BitoGroup and Taiwan FamilyMart to champion access to digital currencies in Taiwan. With the introduction of USDC in the enhanced ‘Points-to-Crypto’ service, we aim to empower the Taiwanese community to participate in the digital economy seamlessly and support Taiwan’s stance in embracing digital fintech innovations.”

The Points-to-Crypto feature will be accessible to BitoGroup’s 800,000 user base and all 17 million FamilyMart customers.