Circle has revealed that Asia-Pacific recorded $2.4 trillion in stablecoin activity between June 2024 and June 2025, positioning the region as the fastest-growing hub for digital currencies. Singapore and Hong Kong have emerged as the second and third-largest stablecoin markets globally, behind only the US.
At Circle Forum in Singapore, Asia-Pacific Vice President Yam Ki Chan emphasized the region’s accelerating adoption, with the Singapore-China corridor now the most active for cross-border stablecoin transactions.
Circle opened its Singapore office in May 2025, underscoring its commitment to the region’s digital finance growth. Corporate adoption has risen sharply, with transactions growing from under $100 million in 2023 to over $3 billion per month by 2025.
Businesses ranging from Wetrip travel agency and Capella Hotels to luxury reseller Ginza Xiaoma now accept stablecoin payments. The Monetary Authority of Singapore (MAS) has also recognized the growing importance of stablecoins, with officials noting their role as new forms of money for the region’s digital economy.
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