Circle, a global digital financial technology firm, has signed a Memorandum of Understanding (MOU) with HKT, a technology, and telecommunication firm, in order to explore a potential collaboration in developing blockchain-based customer loyalty solutions for merchants in Hong Kong.
Leveraging Circle’s expertise in Web3 Services as well as HKT’s extensive merchant ecosystem and customer engagement capabilities, the two companies intend to further develop customer loyalty solutions that are said to be “backed by Web3 tech that will enhance how consumers discover and engage with merchants, fostering more social and dynamic engagement experiences.”
Circle’s Web3 Services provides a comprehensive range of enterprise-grade developer tools that make it faster, easier, and safer to build on the DLT / fast-growing blockchain ecosystems.
Key components, including Circle’s Programmable Wallets, are designed to streamline the Web3 experience, and enable both established companies and new startups to safely “harness the power of digital assets and smart contracts in their existing consumer and enterprise applications.”
Jeremy Allaire, the co-founder and CEO at stablecoin USDC issuer Circle has stated that they are please dto collaborate with HKT to bring their Web3 Services to the forefront of “customer loyalty innovation,”
Allaire added that this latest collaboration is considered to be a testament to their commitment to helping businesses “unlock the potential of blockchain technology to create value-driven customer experiences, redefining loyalty programs and providing merchants with the tools they need to thrive in the digital economy.”
Monita Leung, Chief Executive Officer at HKT Digital Ventures, said that at HKT, they are committed to driving innovation in fintech and the digital economy.
Leung added that they are looking forward to collaborating with Circle, which has emerged an important digital assets ecosystem participant.
Their expertise in Web3 technology complements their “strengths in customer engagement and merchant services.”
Leung concluded that together, they now aim to focus on “delivering unique loyalty solutions that empower merchants to build deeper connections with their customers in Hong Kong.”