Circle CEO Jeremy Allaire (Bloomberg)
Circle CEO Jeremy Allaire (Bloomberg)

Circle CEO Jeremy Allaire is set to visit South Korea next week for a series of high-level meetings with cryptocurrency exchanges and financial institutions, as the issuer of US coin, or USDC, looks to expand its footprint in the local market, according to a report by Herald Business on Wednesday.

Allaire is scheduled to arrive on Monday to meet with representatives of major crypto exchanges, including Dunamu, Bithumb and Coinone, as well as financial groups such as KB Financial Group, Shinhan Financial Group and Hana Financial Group.

The visit is widely seen as part of Circle’s effort to boost circulation of its US dollar-pegged stablecoin by securing local partners across the digital asset ecosystem.

Circle is expected to explore partnerships with exchanges at the on-ramp stage, where Korean won is converted into digital assets, while discussions with banks will likely focus on issuance and on-chain transaction infrastructure.

Potential memorandums of understanding with major exchanges are under discussion, with industry observers noting growing interest in business-to-business demand as listed companies prepare to expand into digital asset investments.

Banks, meanwhile, are emerging as key partners in the broader stablecoin ecosystem, particularly as Korea moves toward bank-led issuance of won-based stablecoins. Circle’s technical expertise in issuance, settlement and smart contract integration are expected to help local institutions accelerate development.


stlee0329@heraldcorp.com