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Circle to invest in Japanese yen stablecoin as part of expansion to Asia
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Circle, the United States-based issuer of USD Coin (USDC), has set its sights on thriving Asian crypto markets.
In a move to strengthen its presence in Asia, Circle picked Singapore to establish a regional headquarters. The company is also setting up an investment arm called Circle Ventures, according to Circle CEO Jeremy Allaire’s interview with Bloomberg. The venture arm’s first investment will focus on a Japanese yen stablecoin.
Allaire said the company sees substantial opportunities in the Asian markets, where he expects to see strong adoption of stablecoins in borrowing and lending markets. He added that the inflation environment and the search for yield would primarily trigger markets’ move to stablecoins. Commenting on Circle Yield,
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