BlockBeats reported on November 4 that Jeremy Allaire, co-founder and CEO of USDC issuer Circle, stated that Hong Kong is an important market for USDC. The company intends to hire more employees and establish a business in Hong Kong, awaiting the introduction of new stablecoin regulations before considering applying for a license after understanding the requirements. Additionally, Chen Qinqi, Vice President of Circle Asia-Pacific, mentioned that Hong Kong has significant advantages in developing stablecoins, including the ability to achieve same-day USD settlement. It is also the largest funding market in the Asia-Pacific region, backed by the mainland market and other factors. He believes that Hong Kong has the potential to develop into an international stablecoin hub and is confident that there will be considerable market demand for the Hong Kong version of stablecoins.