Stablecoin issuer Circle partners with HKT on blockchain loyalty program
Global stablecoin issuer firm Circle and HKT telecommunications service provider in Hong Kong have signed a Memorandum of Understanding (MOU) to discuss possible partnerships that will use blockchain technology to create a customer loyalty program for retailers in the region.
We have teamed up with HKT to explore transforming customer loyalty with a cutting-edge Web3 customer loyalty solution in Hong Kong, bringing the future of customer engagement to merchants in the market.
— Circle (@circle) October 29, 2024
Read more about the collaboration: https://t.co/M6Zqto5c0f
Circle and HKT to explore Blockchain Customer Loyalty Program
Circle said in a statement on Tuesday that the two firms want to create blockchain-powered customer loyalty programs to improve customers' engagement with retailers. Circle added that the purpose of its Web3 products, such as its programmable wallets, is to help businesses in utilizing the potential of digital assets and smart contracts in their existing consumer and business applications.
Jeremy Allaire, co-founder and CEO of Circle, stated, "We are thrilled to work with HKT to bring our Web3 Services to the forefront of customer loyalty innovation."
In the statement, HKT Digital Ventures CEO Monica Leung stated, "Together, we aim to deliver unique loyalty solutions that empower merchants to build deeper connections with their customers in Hong Kong."
"At HKT, we are dedicated to promoting innovation in fintech and the digital economy," and it gives us great pleasure to partner with Circle, said Leung.
Blockchain-based customer loyalty programs
It has also been reported that other businesses collaborate with Web3 platforms to create blockchain-based customer loyalty initiatives. Etihad Airways announced in August 2023 a Web3 loyalty program based on non fungible tokens (NFT).
Circle expansion in Asia largest continent in the world
In Asia, where interest in stablecoins and blockchain applications has grown, the partnership is part of Circle's broader initiative to boost USDC adoption. It seems that Circle is focusing on business prospects in Asia.
Circle CEO and co-founder Jeremy Allaire made remarks about Hong Kong's potential as a regulatory sandbox last year, where blockchain innovations could emerge under a changing legal environment. To increase USDC access in Japan, Circle teamed up with Coincheck in February.
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