Circle and HKT team up on loyalty on blockchain

Circle and Hong Kong’s HKT Explore Loyalty Solutions Based on Blockchain Together

Circle, the issuer of the USDC stablecoin, has formed a strategic partnership with Hong Kong-based firm HKT to explore the potential of utilizing blockchain technology in loyalty systems. Under a memorandum of understanding, both companies plan to integrate Circle’s Web3 services with HKT’s commercial ecosystem to create innovative solutions that support businesses and foster stronger customer relationships.

Utilizing Circle’s Programmable Wallets

A key element of the integration will be the implementation of Circle’s Programmable Wallets, which will allow partners to conveniently manage digital assets and smart contracts. With this solution, companies will be able to provide their customers with modern, blockchain-based rewarding systems.

A Shared Vision for Web3 Technology Development

Jeremy Allaire, co-founder and CEO of Circle, expressed confidence that the partnership with HKT will enable companies to fully harness the potential of blockchain technology in loyalty programs. The Web3 technology offered by Circle aims to support the creation of innovative blockchain-based loyalty programs, providing essential tools for entrepreneurs operating in the digital economy.

Commitment to Innovation and Fintech Sector Development

Monita Leung, CEO of HKT Digital Ventures, highlighted the company’s commitment to promoting innovation in the fintech and digital economy sectors. The collaboration with Circle is expected to deliver unique loyalty solutions that will enhance merchants’ relationships with customers in Hong Kong through modern blockchain-based approaches.

Transition to Blockchain-Based Loyalty Programs

Circle recently introduced the Smart Contract Platform, enabling the integration of loyalty programs with blockchain technology. With this solution, users can earn and exchange rewards using blockchain, benefiting from innovative customer reward methods based on tokenization.

It is worth noting that an increasing number of companies, such as Etihad Airways and Boba Guys, are also exploring the possibilities of creating blockchain-based loyalty programs. Such initiatives bring benefits to both companies and customers, opening up new opportunities for rewarding loyalty and enhancing customer engagement.