Circle to Launch Blockchain Loyalty for HK Merchants

Circle, a USDC stablecoin issuer, and Hong Kong Telcom are developing Web3-powered customer loyalty programs to broaden retailer discovery and engagement

Circle said on Oct. 29 that it has signed a memorandum of understanding with Hong Kong media, technology, and telecoms giant HKT to develop block-chain-based customer loyalty solutions.

The two companies want to create Web3-powered client loyalty programs. The cooperation will produce blockchain-based customer loyalty solutions using Circle’s Web3 services and HKT’s merchant ecosystem.

The integration will include Circle’s Programmable Wallets. The wallets simplify Web3 and allow partners safely use digital assets and smart contracts in consumer and enterprise apps.

Circle co-founder and CEO Jeremy Allaire said partnership with HKT can help firms use blockchain technology in customer loyalty programs.

He added Circle’s Web3 technology can assist Hong Kong shops establish value-driven customer experiences, blockchain-based loyalty programs, and digital economy growth tools.

“We are excited to collaborate with HKT to bring our Web3 Services to the forefront of customer loyalty innovation,” added Allaire.

Monita Leung, CEO of HKT Digital Ventures, stated HKT promotes financial tech and digital economy innovation. Leung said Circle’s Web3 knowledge compliments their customer engagement and merchant services strengths.

Leung stated, “Together, we aim to deliver unique loyalty solutions that empower merchants to build deeper connections with their customers in Hong Kong.”

We are working with HKT to redefine consumer loyalty in Hong Kong with a cutting-edge Web3 solution that brings businesses the future of customer interaction.

Circle launched a Smart Contract Platform this year that integrates on-chain loyalty programs with user apps to let users earn and redeem rewards.

Circle’s article highlighted the benefits of on-chain reward programs over traditional techniques. Circle noted that Web3’s decentralization can be leveraged to tokenize customer reward programs and create new value.

Web3 technologies have helped other organizations create blockchain-based consumer loyalty programs.

Etihad Airways, the UAE’s primary airline, unveiled a Web3 loyalty program using non-fungible tokens in August 2023.

Etihad Airways’ reward program lets consumers bet NFTs and earn Etihad Guest Miles with Arcube. Flights, upgrades, and other benefits can be redeemed with miles.

Boba Guys, a California and New York beverage business, launched an on-chain loyalty program with Solana in April 2023.

NFTs and token-driven experiences would boost customer engagement.