Circle, the developer of USDC, one of the largest stablecoins, is strengthening its position in the Asian market.
According to the announcement made today, Circle has partnered with Taiwanese cryptocurrency exchange BitoGroup and FamilyMart.
Thanks to the partnership established between the three companies, FamilyMart customers can redeem their loyalty points. They will be able to convert into cryptocurrencies such as USDC.
“We aim to help the Taiwanese community seamlessly integrate into the digital economy, supporting Taiwan’s accepting approach to innovations in the digital fintech field,” said Raagulan Pathy, Circle’s Asia Pacific region manager. said.
FamilyMart, Taiwan’s second largest grocery chain, has been operating a loyalty points program for a long time. A 2021 survey found that 87% of customers participated in this program and 99% benefit from points showed.
According to the statement made by BitoGroup, the company has approximately 800,000 members. As it stands, the company is based in Taiwan for approximately 90% market share in possession.