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Jeremy Allaire, co-founder and CEO of Circle, attended the World Economic Forum in Tianjin, China today. In an interview with Bloomberg, he said that the issuer of $USDC is paying attention to what's going on in Hong Kong and even the whole Asia.
A new crypto regulatory regime took effect in Hong Kong on June 1st, under which the exchanges receiving licenses from the Securities and Futures Commission are allowed to operate in the city. However, Hong Kong hasn't had regulations for stablecoins yet.
Allaire said, "Hong Kong clearly is looking to establish itself as a very significant center for digital assets markets and for stablecoins and we are paying very close attention to that. What's happening in Hong Kong may be a proxy for ultimately how do these markets grow in Greater China."
Recently, Circle obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). Speaking of the Asia market, Allaire said, "we see enormous demand for digital dollars in emerging markets and Asia is really center of that."
Related: Hong Kong New Crypto Regulations come into effect June 1, Key Points You need to Know
Circle Obtained Major Payment Institution (MPI) License in Singapore