On October 29, US dollar stablecoin USDC issuer Circle signed a Memorandum of Understanding (MOU) with Hong Kong-based technology, media, and telecommunications services provider Hong Kong Telecom (HKT) to explore potential collaborations to develop blockchain-based customer loyalty solutions for merchants in Hong Kong. By leveraging Circle's expertise in Web3 services and HKT's extensive merchant ecosystem and customer engagement capabilities, the two companies aim to develop customer loyalty solutions based on Web3 technology to enhance the way consumers discover and interact with merchants, promoting a more social and dynamic engagement experience.