Circle: In the past year, the trading volume of stablecoins in the Asia-Pacific region reached $2.4 trillion, with Singapore and Hong Kong leading the growth

ChainCatcher news, according to the latest data released by USDC issuer Circle, the stablecoin trading volume in the Asia-Pacific region has reached $2.4 trillion over the past year, indicating that the region is rapidly becoming the core engine for global stablecoin usage. Among them, Singapore and Hong Kong are the main hubs driving this growth.

The report points out that, compared to speculative activities, the growth of stablecoins in the Asia-Pacific region is more driven by actual applications, including cross-border remittances, tokenized trade, supply chain finance, and large-scale commercial activities that require fast and low-cost settlements. In addition, the open regulatory policies and mature fintech infrastructure in Singapore and Hong Kong have also created favorable conditions for the rapid expansion of stablecoins.