Circle has been aggressively expanding all over the world and now plans to set up a hub in Singapore. It is one of the most crypto-friendly nations in existence right now and Dante Disparte, the chief strategy officer or circle says that crypto cannot expand without taking Singapore into account.
The company says that they will hire a Singapore leadership team for their hun and will do everything in their power to obtain the necessary licenses. At this point in time, they are looking for partners to test out their stable coin innovation in Singapore’s local market.
These activities will be monitored closely by the Monetary Authority of Singapore (MAS) and will also guide them through the whole process. Circle earlier also announced that they are planning to go public with a reverse merger. The Concord Acquisition Corp will be the one merging with Circle and is expected to put $4.5 billion into the firm before the end of the year.
On Tuesday itself, Circle also launched a Circle Ventures Fund that will help them invest in their blockchain companies and fund their new ventures. This is great as you can be one of the early adopters of these things in the near future.
If you have been planning to invest in crypto then right now is the best time to do so. The companies are investing heavily into their DeFi systems and they are growing popular by the day. Also, the general public has been enthusiastic about these technologies and their acceptance is also growing steadily.