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Bitcoin
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Ethereum
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$4,478.32 -4.23894
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BNB
BNB (BNB)
$1,311.66 2.82411
BNB price
Solana
Solana (SOL)
$221.32 -3.83148
Solana price
XRP
XRP (XRP)
$2.87 -3.56561
XRP price
Shiba Inu
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$0.0000121 -4.16512
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Pepe
Pepe (PEPE)
$0.0000093 -6.32397
Pepe price
Bonk
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$0.0000199 -3.57223
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dogwifhat
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Popcat
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Bitcoin
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Ethereum
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$4,478.32 -4.23894
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BNB
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$1,311.66 2.82411
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Solana
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$221.32 -3.83148
Solana price
XRP
XRP (XRP)
$2.87 -3.56561
XRP price
Shiba Inu
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$0.0000121 -4.16512
Shiba Inu price
Pepe
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$0.0000093 -6.32397
Pepe price
Bonk
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$0.0000199 -3.57223
Bonk price
dogwifhat
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$0.734378 -5.33718
dogwifhat price
Popcat
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$0.229174 -4.7351
Popcat price
Bitcoin
Bitcoin (BTC)
$122,548.00 -1.26909
Bitcoin price
Ethereum
Ethereum (ETH)
$4,478.32 -4.23894
Ethereum price
BNB
BNB (BNB)
$1,311.66 2.82411
BNB price
Solana
Solana (SOL)
$221.32 -3.83148
Solana price
XRP
XRP (XRP)
$2.87 -3.56561
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000121 -4.16512
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000093 -6.32397
Pepe price
Bonk
Bonk (BONK)
$0.0000199 -3.57223
Bonk price
dogwifhat
dogwifhat (WIF)
$0.734378 -5.33718
dogwifhat price
Popcat
Popcat (POPCAT)
$0.229174 -4.7351
Popcat price

Circle doubling down on Hong Kong presence

Jayson Derrick
Edited by
News
Circle doubling down on Hong Kong presence

Circle plans to bolster its presence in Southeast Asia, with Hong Kong’s stablecoin roadmap incentivizing the firm’s proposed business expansion.

Circle, the world’s second-largest stablecoin issuer USDC (USDC), intends to hire more employees in Hong Kong and establish additional business relationships in the region, according to local media reports on Nov. 4.

Circle’s operator reportedly views Hong Kong as a key market for stablecoins. This news aligns with previous coverage from crypto.news, which quoted Circle CEO Jeremy Allaire’s remarks on Hong Kong’s upcoming stablecoin strategy.

In late October, Allaire stated that USDC and other stablecoins play a vital role in Hong Kong’s trading practices. These comments followed a July consultation paper from the Hong Kong Monetary Authority (HKMA) concerning a stablecoin framework.

The HKMA aims to implement clear regulations and standards for stablecoins by 2025, integrating these fiat-pegged cryptocurrencies into the region’s financial system.

Local companies have already embraced stablecoins ahead of formal regulatory guidelines. First Digital Trust activated its FDUSD token on Solana last month, adding to existing support on BNB Chain and Ethereum.

Hong Kong has emerged as one of Asia’s leading crypto-friendly jurisdictions despite close ties to China, an anti-Bitcoin (BTC) nation. Some experts suggest that Hong Kong acts as an extension of China’s financial ecosystem, providing a space for crypto and other innovations.

In Circle-related updates, the USDC issuer published a whitepaper for its Confidential ERC-20 standard. The company stated that the new token design aims to preserve user privacy while enhancing regulatory compliance at the smart contract level.

Circle also relocated its global headquarters to New York, with plans to launch an initial public offering and list its shares on Wall Street.