2024

Popcat (SOL)

USDC

The issuer of USDC has been working constantly to expand its adoption and usage worldwide, it is second most used after USDT. According to aregional media outlet, the Chief Executive Officer of Circle, Jeremy Allaire sees Hong Kong as a major market for USDC.&nbsp; 
Additionally, it reported that the company is planning to expand its regional operation in Hong Kong with the intention of hiring more employees to lead company operations in the region.&nbsp;&nbsp;&nbsp;
Hong Kong has been working with great dedication to establish itself as a crypto hub, the region has one of the most favorable and transparent sets of rules for the digital asset market.
It is worth noting that the neighboring nation of Hong Kong, China, has the toughest rules and has imposed an entire ban on activities related to cryptocurrencies. By the end of 2024 major updates are expected in the regulatory framework of the HK to maintain its dominance in the wider cryptocurrency market.&nbsp;&nbsp;
The regulations concerning stablecoins are expected to come by 2024 end of 2024 which will further set the way for stablecoin issuers to pursue a license in the region or not.&nbsp;
Other than Circle, few other stablecoin issuers have been closely assessing the stance of regulators and financial authorities in HK for the approval of the regulations over stablecoins.&nbsp; Hong Kong the Fastest evolving Crypto Hub globally!&nbsp; 
The favorable stance of the Hong Kong administration over digital assets and related products has been a primary factor that helped the region to set itself apart from other regions and nations.&nbsp;
During Hong Kong Fintech Week 2024, Circle’s CEO announced plans to incorporate Hong Kong into the company’s global stablecoin network. Allaire quoted “In emerging and developing markets … importers bring goods out of Asia, and Hong Kong settles much of the trade flow.”&nbsp;&nbsp;
On October 28, 2024, <a href="https://news.todayq.com/dubai-hong-kong-strengthen-crypto-ties-for-cross-border-trade/" target="_blank" rel="noopener noreferrer nofollow">Todayq </a>reported that Dubai and Hong Kong are supporting each other to help understand the potential benefits and threats of cross-border payment. Per available data, the UAE also has one of the highest numbers of registered crypto-based companies, and over two dozen companies have already established their headquarters in the region.&nbsp;&nbsp;&nbsp;&nbsp;
The regulators in Hong Kong have issued licenses for many crypto-based firms including some traditional banks that intend to offer crypto-related services. Earlier this month ZA Bank secured approval for type 1 regulated activities.&nbsp;&nbsp;
Hong Kong Exchanges and Clearing (HKEX), the operator of Asia’s third-largest stock exchange, plans to launch a virtual asset index series, providing a reliable price benchmark for cryptocurrencies to support Hong Kong’s ambition to become a leading hub for digital assets. Crypto Market Price Update&nbsp; 
As of writing the cryptocurrency market capitalization was $2.29 trillion and at the same time the fear and greed index was at 53 reflecting a neutral sentiment across the market.&nbsp;
In the past 24 hours, a steadiness in Bitcoin trading price has been observed until publishing it was trading at $68,694. Its intraday trading volume reached $34.27B surging over 40% in the same period.&nbsp;
Popcat (SOL) has gathered a huge spotlight as it lost more than 12% of its trading price reaching $1.25 making it the topper of the intraday gainers list followed by Apecoin and THORChain.&nbsp;

Hong Kong emerges as key market for USDC, says Circle CEO

Todayq News

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