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Stablecoin hype in Asia: Circle reports record growth

Stablecoins are gaining momentum in Asia faster than anywhere else.

By Luc Vesters
• 2 min read
Stablecoin hype in Asia: Circle reports record growth

Stablecoins are gaining traction in Asia faster than anywhere else in the world. Circle, the issuer of USDC, said on-chain activity in the APAC region grew 69% from June 2024 to June 2025, totaling $2.4 trillion in volume.

“Africa?” Hmm no—let's keep exact phrasing consistent: Asia has the highest adoption rate for stablecoins worldwide," View post on X, Circle’s vice president for the region, said during a conference in Singapore. Singapore and Hong Kong are making a big leap, with both cities now ranking second and third largest stablecoin markets after the United States.

In Q3 2025, the sector grew 20%, faster than traditional investment categories. Institutional investors and clear regulation are driving the trend. The U.S. GENIUS Act gave the market new confidence, while Hong Kong has had one of the first comprehensive licensing regimes for stablecoins worldwide since August 1.

Circle itself is also benefiting from the growth. Since its June IPO, CRCL has jumped 25% to $149.70.

Stablecoins are rapidly turning into a fixture in the financial system.

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