Crypto Company Circle and Trading Platform Legend Trading Collaborate to Expand Stablecoin Services in Latin America and Asia-Pacific
Crypto company Circle and institutional-grade trading platform Legend Trading have announced their joint plans to expand stablecoin services in the Latin American and Asia-Pacific regions. This collaboration aims to broaden the scope of USDC to better serve large entities and institutional customers who are working with Legend Trading in these rapidly growing markets.
Legend Trading, serving over 800 institutions and operating in more than 150 countries, claims to process $1 billion monthly. As stated in the joint press release, trading through Legend’s platform offers deep liquidity and high settlement efficiency, making it an attractive solution for institutional clients to access USDC.
The alliance caters to the institutional interest for stablecoins in regions that have historically shown a need for digital dollars. Both Asia-Pacific and Latin America have experienced tremendous growth in the crypto realm, and this partnership aims to drive USDC adoption to new heights in these markets.
Circle has witnessed a significant increase in demand for stablecoins in both regions, and their collaboration with Legend Trading aims to unlock liquidity and access to digital dollars in these key markets. Circle will provide always-on settlement infrastructure for large regional entities.
This partnership is part of Circle’s aggressive international expansion campaign, as the company continues to make announcements in this regard. Despite facing challenges in capturing market share, Circle’s CEO has previously stated that 70% of USDC’s market share comes from outside the U.S.
The Asia-Pacific region has shown strong support for crypto with the implementation of clear-cut rules and regulations. The Circle and Legend Trading partnership serves as a signal to the market that they are attentive to these developments.
Hot Take:
The collaboration between Circle and Legend Trading to expand stablecoin services in Latin America and the Asia-Pacific region reflects the growing demand for digital currencies in these markets. With the aim to meet the needs of large entities and institutional customers, this partnership demonstrates the commitment to provide liquidity and access to USDC. As the crypto industry experiences explosive growth in Asia-Pacific and Latin America, Circle and Legend Trading are poised to drive USDC adoption to new heights. This expansion campaign aligns with Circle’s international strategy, despite challenges in market share. The support for crypto in the Asia-Pacific region, through the establishment of regulations, further emphasizes the potential for growth. The partnership sends a clear message to the market that Circle and Legend Trading are actively listening and responding to the demands of these regions.
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