Circle partners with Hong Kong Telecom to revolutionize loyalty programs

Circle, a fintech company issuing USDC, recently announced that it is teaming up with Hong Kong Telecom (HKT) to promote customer loyalty solutions powered by Web3 technology.

The agreement signed on Tuesday establishes a partnership to improve customer service and trade connections in Hong Kong by creating compelling and responsive loyalty solutions. Circle’s focus on leveraging blockchain for customer experience is in line with Hong Kong’s vision to become a digital asset and blockchain hub.

The collaboration between Circle and HKT marks a significant step in the development of customer loyalty programs. Given consumers’ increased expectations from loyalty programs, including value and engagement, the partnership aims to go beyond the overall rewards structure by using blockchain for on-chain loyalty tools.

Statistics show that 70% of customers are affected by loyalty programs and the global market size is expected to reach $5.57 billion. This shift is due to the changing needs of customers and the fact that blockchain can meet emerging needs through the flexibility of loyalty scheme programs.

These new loyalty programs will be delivered through Circle’s programmable wallets, which enable DLT-based asset management and smart contracts within current consumer and enterprise applications. This allows merchants to better engage with their customers and customers to securely interact with loyalty rewards.