Circle Partners With HKT To Revolutionize Customer Loyalty Programs in Hong Kong
Circle, one of the largest stablecoin issuers in the world, has partnered with technology giant HKT to revolutionize the loyalty rewards sector in Hong Kong. This deal comes via a Memorandum of Understanding (MOU) announcement on Tuesday, targeting the use of blockchain technology to drive better relationships between customers and merchants.
The partnership brings together Circle’s expertise in Web3 and HKT’s huge merchant network and customer engagement capabilities. It comes at a time when loyalty programs worldwide continue to suffer from increasing issues, including low rates of redemption and account inactivity, among others, a recent Deloitte report revealed.
Jeremy Allaire, co-founder and CEO of Circle, said: “This collaboration is a testament to our commitment to helping businesses unlock the potential of blockchain technology to create value-driven customer experiences, redefining loyalty programs and providing merchants with the tools they need to thrive in the digital economy.”
The initiative extends Circle's launch of its Smart Contract Platform in March which was designed to make operations of on-chain loyalty programs seamless by cutting the friction in earning and redeeming rewards.