Circle has boosted the hiring process in Asia. Circle is a well-known payment technology platform that enables the businesses of huge volumes to harness the aptitude of blockchains and stablecoins for commerce, financial application, and payments. Along with the rising demand for USDC in the various written sectors, Circle is looking forward to expansion in the Asian continent by boosting up the hiring process, starting with the jobs posting in Singapore, Seoul, Tokyo, and Honk Kong for the analyst and sales jobs. It is important to note that jobs posting in the said Asian region have increased from 51 to 281 within the past couple of months.
It is a well-acknowledged fact that the demand for stablecoins is soaring as digital assets are becoming the actively traded institutional and retail assets in the Asian continent. This trend got more accelerated after the ban of Bitcoin exchanges in China by PBoC. Although there is a huge growing demand for stablecoins in Asia, still USDT and USDC remained on the top of the priority list for investing and trading purposes.
Chainalysis research shows that Tether and the stablecoins have become efficient off an on-ramp for Asian clients looking forward to swapping the possessed RMB with cryptocurrencies. On the other hand, both Japan and Korea are actively operating hubs of trading paired crypto assets like BTC-JPY and BTC-KRW, respectively. Moreover, Chainalysis research claims that due to problematic capital control over international-minded vendors dealing in internal commerce, USDT has been proved an aiding asset to cope with the remittances in the Asian market, particularly in China.
Interestingly Stablecoins have made 33% of overall value over on-chain transactions and have got prominent usage in East Asia. Tether remained on the top of popular stablecoins by making 93% of overall value over on-chain transactions of stablecoins. Not just China but Indonesia, Thailand, and few other countries also seem to be interested in regulating stablecoins according to their financial rules and regulations.
Korea, on the other hand, being the hottest crypto hub, has shown unbridled eagerness for stablecoins. There are still few ambiguities about the stablecoins regulatory system in Korea due to shyness and uncertainty as people have to think twice before investing in stablecoins. But still, with the increasing demand for stablecoins in Asia, Circle has resources and time to boost hiring to bring the people into the loop.