Circle Reports $2.4 Trillion Stablecoin Activity in Asia-Pacific

Core Insights - Asia-Pacific is identified as the fastest-growing stablecoin market, with on-chain activity reaching $2.4 trillion between June 2024 and June 2025 [1][2] - Singapore and Hong Kong have emerged as the second and third-largest stablecoin trading hubs globally, following the US [3] Market Dynamics - The Singapore-China corridor has become the most active route for cross-border transactions, highlighting Singapore's strategic importance in digital asset flows [3] - Circle's expansion into Asia, marked by the opening of its Singapore office in May 2025, reflects the growing demand for stablecoins [4] Transaction Growth - Monthly stablecoin transaction volumes have seen significant growth, with corporate transactions increasing from less than $100 million in early 2023 to over $3 billion by early 2025 [4] Adoption Across Sectors - Various industries, including travel and luxury retail, are increasingly adopting stablecoin payments, with notable examples such as Wetrip travel agency and Capella Hotels [5] Regulatory Developments - The rise of stablecoins is accompanied by regulatory advancements, with Hong Kong implementing dedicated stablecoin regulations in August 2025 and the US passing the GENIUS Act in June [7]