Crypto company Circle and institutional-grade trading platform Legend Trading have jointly announced plans to expand stablecoin services to Latin American and Asia-Pacific regions.
The companies said Decrypt that collaboration aims to expand the scope of USDC to better serve the large entities and institutional customers currently working with Legend Trading in “two fast-growing markets.”
Legend Trading claims to serve more than 800 institutions, processes $1 billion per month and operates in more than 150 countries, according to its website,
“As a leading crypto trading firm, trading through Legend’s platform provides deep liquidity and high settlement efficiency, presenting an attractive solution for institutional clients to access USDC,” read the joint press release.
The alliance is set up to meet institutional interests stablecoins in regions that have historically shown a need for digital dollars. As Hao Chen, CEO of Legend Trading, commented, “APAC and LATAM are showing strong growth in the crypto realm, and we are excited to push USDC adoption to new heights in these markets.” .”
Kash Razzaghi, Chief Business Officer for Circle, echoed Chen’s comments, saying that the company has seen a significant increase in demand for stablecoins in both markets, and that the collaboration with Legend Trading a bid in that direction.
“Working with Legend Trading will help unlock liquidity and access to digital dollars in these important markets,” he said, adding that Circle will always offer settlement infrastructure for large-scale transactions. regional entity.
Today’s news expands a seemingly endless string of announcements from Circle as the company continues an aggressive international expansion campaign.
Jeremy Allaire, CEO of Circle, has said before that 70% of the USDC market share comes from outside the US, although the company’s stablecoin has struggled to gain market share, retrogressive to multi-year lows.
the Asia-Pacific the region became decisive pro-crypto in the last few months, with many countries adopting clear cut rules and regulations for the industry.
The partnership between Circle and Legend Trading can be seen as a signal to the market that they are listening.
