Circle said stablecoin payments into Hong Kong are surging on its cross-border payment network, with most of the flow moving through USDC. The company said Hong Kong is an attractive market and a central trade hub where cross-border payments are driving stablecoin adoption. [1]
Jeremy Allaire, Circle's chief executive, said Hong Kong remains a central trade hub and that cross-border payments and trade are major drivers of stablecoin use. He said payments into Hong Kong were among the most popular routes for cross-border settlements. [1]
Circle is seeking to have USDC approved as a foreign stablecoin under Hong Kong's emerging regulatory regime, Allaire said. He also said the company does not plan to issue a Hong Kong dollar stablecoin. [1]
The company has stepped up its ties in the city in recent years. In late April 2026, Circle partnered with Hong Kong-listed OSL Group to expand USDC offerings on OSL's platforms. In 2024, it signed a memorandum of understanding with HKT to explore blockchain-based customer loyalty tools for Hong Kong merchants. [1]
Circle launched its Circle Payments Network in May 2025 to support institutional stablecoin settlements, and Hong Kong has emerged as one of the network's key routes. [1]
