Circle plans to invest in Singapore to further its expansion globally

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Circle, a global financial technology firm that offers internet-based payments and financial infrastructure to all sizes of businesses, has recently announced that it is planning to open a regional hub in Singapore and start the application process for getting relevant Singapore authorizations and registrations.

According to sources, Circle’s expansion in Singapore will be a breakthrough step in its global expansion, which will include employing a Singapore-based team of regional leaders.

Furthermore, being the major operator of digital currency USD coin (USDC), Circle is looking forward to collaborating to experiment in stable coin innovations in the Singapore market under its Lighthouse Project with Monetary Authority of Singapore (MAS).

Circle's Chief Strategy Officer and Global Head of Policy, Dante Disparte, says that Singapore is a promising financial hub and their firm cannot create an always-on, global internet finance business without considering it.

He pointed out that the MAS (Monetary Authority of Singapore) has been an outstanding regulatory partner as Circle is willing to expand their business prospects and capitalize in the Singaporean market.

Jeremy Allaire, Co-founder and CEO of Circle, said that MAS has always been one of the leaders of fintech innovations and they are thrilled to collaborate with Singaporean businesses on innovation initiatives.

Sopnendu Mohanty, Chief FinTech Officer at MAS, said they are pleased to welcome Circle as the operators of the world's fastest-growing stablecoins. MAS is very much confident that Circle will bring innovation, investment, and opportunity to Singapore, and is looking forward to assisting their Lighthouse Project.

For those unaware, the Lighthouse Project intends to validate how digital currencies, open payment systems, and innovation-forward fintech regulations can resolve regulatory and business challenges with local business partners, despite powering Web3 financial innovations and economic growth.

Source Credit - https://finance.yahoo.com/news/circle-invest-singapore-part-always-000000975.html