Market expansion will see the development of a licensed hub and flagship stablecoin project
BOSTON, November 10, 2021 / PRNewswire / – Circle, a global internet finance company that provides internet payments and financial infrastructure to businesses of all sizes, today announced plans to establish a regional hub in the Singapore market and plans to initiate the application process to obtain Singapore licenses and registrations.
âYou can’t build an ever-active global Internet finance business without considering Singapore as a hub, âsaid Dante Disparte, Circle Strategy Director and Global Head of Policy. “The Monetary Authority of Singapore (MAS) has been an extraordinary regulatory partner as we seek to broaden our business horizons and invest in the Singapore market. “
Regional expansion in Singapore will be a key component of Circle’s global expansion plans, including the hiring of a regional management team based in Singapore. Also the primary operator of USD Coin (USDC), a fully dollar-dollar digital currency, Circle is seeking partners to experiment with stable innovations in the Singapore market as part of a flagship project with MAS observing and guiding the design of the project.
“MAS has always been at the forefront of fintech innovation,” said Jeremy Allaire, co-founder and CEO of Circle. âWe are honored to work with MAS and look forward to collaborating with Singaporean companies on our innovation initiatives. “
âWe welcome Circle as the operator of one of the world’s fastest growing stablecoins,â said Sopnendu Mohanty, Chief Financial Officer of MAS. “We know they will bring innovation, investment and opportunity to Singapore and we look forward to supporting their Lighthouse project. “
Together with local business partners, the Lighthouse project aims to demonstrate how digital currencies, open payment systems and innovative fintech regulations can solve business and regulatory challenges while fueling economic growth and financial innovations Web3.
Circle is a global financial technology company that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications around the world. Circle is the primary operator of USD Coin (USDC), the leading digital dollar currency fueling native Internet commerce and payments continuously with circulation above $ 33 billion and more $ 1.3 trillion in chain transactions. Today, Circle’s transactional services, business accounts and platform APIs are spawning a new generation of financial services and business applications that promise to increase global economic prosperity for all through exchange. frictionless financial value. Additionally, Circle operates SeedInvest, one of the largest startup fundraising platforms in the United States, which is a registered broker. Learn more about https://circle.com.
SOURCE Circle Internet Financial LLC