<img src="https://crypto.news/app/uploads/2023/11/crypto-news-blockchain-finance-circle-system-white-and-blue-colors.webp” />
USDC stablecoin issuer Circle has partnered with Hong Kong Telcom to create customer loyalty solutions powered by Web3 technology that will diversify the way consumers discover and interact with merchants.
According to Circle's October 29 report Press releaseThe stablecoin issuer officially signed a memorandum of understanding with Hong Kong media, technology and telecommunications company HKT to explore blockchain-based customer loyalty solutions.
The two companies aim to develop customer loyalty solutions supported by Web3 technology. The partnership will bring together Circle's Web3 services and HKT's commerce ecosystem to create customer loyalty solutions based on blockchain technology.
One of the key components that will be integrated is Circle's programmable wallets. The wallets are designed to optimize the Web3 experience, allowing partners to securely use digital assets and smart contract functions within their enterprise and consumer applications.
Circle co-founder and CEO Jeremy Allaire said that by collaborating with HKT, Circle can help businesses unlock the potential of blockchain technology in their customer loyalty programs.
He said Circle's Web3 technology will be able to help Hong Kong merchants create value-driven customer experiences, create new blockchain-based loyalty programs, and provide merchants with the tools they need to grow in the sphere of the digital economy.
“We are excited to collaborate with HKT to bring our Web3 services to the forefront of customer engagement innovation,” said Allaire.
Monita Leung, CEO of HKT Digital Ventures, said HKT is committed to promoting innovation in the financial technology and digital economy sectors. Leung added that Circle's expertise in Web3 technology complements its strength, which is customer engagement and business services.
“Together, we aim to offer unique loyalty solutions that enable merchants to build deeper connections with their customers in Hong Kong,” said Leung.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter“>
Earlier this year, Circle launched a Smart contract platform which offers on-chain loyalty programs integrated into user applications, allowing customers to earn and redeem rewards through blockchain.
in the circle blog postThe company emphasized the benefits that come from shifting from traditional methods to chain loyalty programs. Circle highlighted that the decentralized nature of Web3 can be used to innovate customer reward systems with features such as tokenization, creating new forms of value for customers.
Other companies are also known to partner with Web3 platforms to develop blockchain-based customer loyalty programs. In August 2023, Etihad Airways, the national airline of the United Arab Emirates, announced plans to launch a Web3 loyalty program based on non-fungible tokens.
In partnership with real-world asset tokenization company Arcube, Etihad Airways' loyalty program allows customers to stake nfts and earn Etihad Guest Miles. Miles can be redeemed for flights, upgrades and other benefits.
In April 2023, Boba Guys, a beverage retailer with stores in California and New York, partnered with the Solana network to develop a chain loyalty program. The program would incorporate nfts and token-based experiences to increase customer engagement.
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
