Circle has signed a Memorandum of Understanding with HKT, Hong Kong’s leading telecom provider, to explore blockchain-driven customer loyalty solutions aimed at enhancing consumer engagement for local merchants.
In a statement issued today, October 29, 2024, Circle stated that the initiative will leverage blockchain technology to improve customer discovery and build stronger merchant-consumer relationships. The stablecoin issuer noted that its Web3 offerings, such as programmable wallets, are designed to enable businesses to leverage digital assets and smart contracts within their current consumer and enterprise applications.
Jeremy Allaire, Circle’s co-founder and CEO, emphasized the significance of the partnership to positioning its “Web3 Services” as a leader in transforming loyalty programs.
“This collaboration demonstrates our commitment to empowering businesses to harness blockchain technology, enabling value-driven customer experiences, redefining loyalty programs, and equipping merchants with the necessary tools to succeed in the digital economy,”
Allaire stated
“Together, we aim to deliver unique loyalty solutions that empower merchants to forge deeper connections with their customers in Hong Kong,”
said Monita Leung, CEO of HKT Digital Ventures.
This development comes as Circle has been actively expanding its partnerships and product offerings. In a recent collaboration with Sony Block Solutions Labs, Circle introduced its Bridged USDC Standard to Soneium, Sony’s new Ethereum Layer 2 blockchain. The partnership, announced on September 16, will integrate bridged USDC as a primary transaction token on the platform.
The stablecoin issuer also recently introduced a new feature that enables fast, low-cost payments directly through point-of-sale systems for its flagship stablecoin product, USDC. Thanks to the new feature, users can now complete transactions quickly by directing iPhones to a USDC blockchain address via Face ID. Notably, this feature uses Apple’s NFC chip and Secure Element, which were previously restricted to Apple Wallet and Apple Pay. Allaire claimed the feature’s introduction is a significant step in expanding blockchain-enabled payments on the iPhone.
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