Circle To Invest in Singapore as part of Always-On Global Infrastructure

Circle Internet Financial has announced plans to expand into the Singapore market, aiming to invest and obtain necessary licenses in the region. The company, which operates the USD Coin (USDC), a fully reserved digital dollar, intends to establish a hub in Singapore to serve the broader Asia-Pacific market. As part of a Lighthouse Project, Circle is collaborating with the Monetary Authority of Singapore (MAS) to experiment with stablecoin innovations, striving to address business and regulatory challenges while promoting economic growth and Web3 financial innovations. Emphasizing MAS's role in fintech innovation, Circle's CEO Jeremy Allaire expressed enthusiasm for working with Singaporean businesses. MAS's Chief Fintech Officer Sopnendu Mohanty welcomed Circle's commitment, anticipating it will bring innovation and investment to Singapore. Circle's senior executives, including Allaire and Chief Strategy Officer Dante Disparte, are participating in the Singapore Fintech Festival 2021, highlighting their dedication to fostering fintech experimentation and innovation in the region.

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