Circle CEO: Compliance Is Key for Stablecoin Breakthroughs, with Business Expansion Starting from Cross-Border Payments and Virtual Asset Trading

According to a report by Jinse Finance, Liu Yu, CEO of Circle Technology, stated in an interview with 21st Century Business Herald that over the past year, Circle Technology has engaged in extensive discussions with the Monetary Authority on various regulatory matters, while also conducting in-depth research on application scenarios and business strategies. Circle Technology will launch its initial stablecoin business focusing on three application scenarios: cross-border trade and cross-border payments, licensed virtual asset exchanges in Hong Kong, and RWA (real-world asset tokenization) in Hong Kong. In addition, the Stablecoin Ordinance has made provisions for multi-currency stablecoins. Liu Yu noted that although Circle is starting with the Hong Kong dollar, the company hopes to issue stablecoins in other currencies in the future. At the same time, Circle will also make strategic moves in the RWA sector. Previously, in July last year, the Hong Kong Monetary Authority announced the first batch of three stablecoin issuers, including Circle Innovation Technology Limited (a subsidiary of Circle Technology), JD Coinchain Technology (Hong Kong) Limited, and a consortium formed by Standard Chartered Bank (Hong Kong), Anni Group, and Hong Kong Telecom.