{"id":36294,"date":"2023-10-26T17:59:59","date_gmt":"2023-10-26T17:59:59","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/usdc-issuer-circle-collaborates-with-taiwanese-firms-to-bring-loyalty-points-to-crypto-services\/"},"modified":"2023-10-26T18:00:00","modified_gmt":"2023-10-26T18:00:00","slug":"usdc-issuer-circle-collaborates-with-taiwanese-firms-to-bring-loyalty-points-to-crypto-services","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=36294","title":{"rendered":"USDC Issuer Circle Collaborates with Taiwanese Firms to Bring Loyalty Points to Crypto Services"},"content":{"rendered":"<div>\n<figure id=\"attachment_121248\" aria-describedby=\"caption-attachment-121248\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-121248\" class=\"wp-caption-text\">Source: Circle<\/figcaption><\/figure>\n<p>Global fintech firm Circle, which issues dollar-pegged USDC stablecoin, will soon offer loyalty points to stablecoin conversion service in Taiwan.<\/p>\n<p>Circle has collaborated with two Taiwanese firms \u2013 crypto exchange BitoGroup and convenience store chain Taiwan FamilyMart \u2013 to launch \u2018Points-to-Crypto\u2019 service.<\/p>\n<p>Per a Thursday announcement, the collaboration would allow users to convert their FamilyMart loyalty points, to cryptocurrencies like USDC. The service does not involve any transaction fees, and prevents loss of value in loyalty points, it added.<\/p>\n<p>\u201cCustomers can indicate the amount of FamiPoints they would like to convert to their desired digital currency on the Taiwan FamilyMart App, and include their BitoPro account details to receive them,\u201d the release read.<\/p>\n<p>FamilyMart is the second-largest convenience store chain in Taiwan, and has been adopting a loyalty point system dubbed \u2018FamiPoints.\u2019 The service aims to empower the Taiwanese community to participate in the digital economy seamlessly, said Raagulan Pathy, VP of Asia Pacific for Circle.\n<\/p>\n<p>\nTaiwan is one of the nations which is reported to have the highest densities of convenience stores. A Taiwanese think tank revealed Market Intelligence &amp; Consulting Institute (MIC), which surveyed in 2021.<\/p>\n<p>The report showed that \u201c87% of users engage in points accumulation, with an overwhelming 99% of them utilizing points often for product redemptions.\u201d<\/p>\n<p>BitoGroup stated that currently, it has a membership base nearing 800,000 and a commanding market share of close to 90% in Taiwan.<\/p>\n<p>\u201cThrough our strategic collaboration with Circle and FamilyMart, we aspire to expand the USDC ecosystem and build a robust Web3 infrastructure in Taiwan,\u201d Titan Cheng, the founder and CEO of BitoGroup, noted.<\/p>\n<p>The collaboration comes weeks after Circle\u00a0announced a strategic partnership with Coins.ph, a Philippines-based major crypto exchange and digital wallet provider.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/usdc-issuer-circle-collaborates-with-taiwanese-firms-to-bring-loyalty-points-to-crypto-services.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Circle Global fintech firm Circle, which issues dollar-pegged USDC stablecoin, will soon offer loyalty points to stablecoin conversion service in Taiwan. Circle has collaborated with two Taiwanese firms \u2013 crypto exchange BitoGroup and convenience store chain Taiwan FamilyMart \u2013 to launch \u2018Points-to-Crypto\u2019 service. Per a Thursday announcement, the collaboration would allow users to convert [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":36295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-36294","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDC Issuer Circle Collaborates with Taiwanese Firms to Bring Loyalty Points to Crypto Services | Prosfunds<\/title>\n<meta name=\"description\" content=\"Source: Circle Global fintech firm Circle, which issues dollar-pegged USDC stablecoin, will soon offer loyalty points to stablecoin conversion service in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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