Circle and HKT Collaborate on Blockchain Customer Loyalty Solution

Circle has signed a Memorandum of Understanding with HKT, a leading telecommunications service provider in Hong Kong, to explore collaborations utilizing blockchain technology for developing a customer loyalty solution for regional merchants.

In a statement released on Tuesday, Circle indicated that the two companies aim to create customer loyalty services supported by blockchain technology, enhancing consumer discovery and engagement with merchants.

Circle highlighted that its Web3 products, such as programmable wallets, are designed to assist businesses in harnessing the power of digital assets and smart contracts in existing consumer and enterprise applications.

“Together, we aim to deliver unique loyalty solutions that empower merchants to build deeper connections with their customers in Hong Kong,” stated Monita Leung, CEO of HKT Digital Ventures.

Jeremy Allaire, co-founder and CEO of Circle, emphasized that the partnership with HKT brings its “Web3 Services” to the forefront of customer loyalty innovation. He stated, “This collaboration is a testament to our commitment to helping businesses unlock the potential of blockchain technology to create value-driven customer experiences, redefining loyalty programs, and providing merchants with the tools they need to thrive in the digital economy.”

Circle is focusing on business opportunities in Asia. Allaire mentioned last year that the firm is closely monitoring regulatory developments in Hong Kong. In February, Circle partnered with Coincheck to expand USDC access in Japan.