Circle, the issuer of the US dollar (USDC), targets the fast-growing Asian crypto markets.

In an effort to strengthen its presence in Asia, Circle chose Singapore to establish its regional headquarters. The company is also creating an investment arm called Circle Ventures, according to Circle CEO Jeremy Aller in an interview with Bloomberg. The initial investments of the venture division will focus on the stable currency of the Japanese yen.

Aller said that the company sees significant opportunities in Asian markets as he expects to see strong dependence on stable coins in the loan and lending markets. He added that the inflation environment and the search for profit will first and foremost lead to the markets moving towards stable currencies. In a comment on the latest offer from Circle Yield, he said:

“While many people want to focus on the people who secure themselves by buying bitcoin directly, we believe internal capital agents, corporate cashiers, etc. will be a very attractive place in stablecoin profitability.”
Circle is currently recruiting staff to fill Singapore’s headquarters to make USDC “one of the first global stack coins licensed in Singapore.” The company is working with the Monetary Authority of Singapore to initiate USDC accreditation for large companies in the country.

Related topics: The USDC issuer circle supports the proposal to regulate stablecoin issuers as banks.

Aller was one of the earliest leaders in the crypto industry to openly support the Biden administration’s recent proposal to regulate stable coin issuers as banks.

“We kind of agree on this basic premise, which is potentially the backbone of a really large volume of payments and marketing activity,” he said.

In a separate interview, he said that the current measures would improve existing rules aimed at transferring funds “to a more basic infrastructure that underlies the potential shape of the future of the banking and capital markets.”

Source: CoinTelegraph