PANews reported on October 3rd that according to the latest data released by USDC issuer Circle, stablecoin trading volume in the Asia-Pacific region has reached US$2.4 trillion over the past year (June 2024 to June 2025), demonstrating that the region is rapidly becoming a core engine for global stablecoin use. Singapore and Hong Kong are the main hubs driving this growth.

The report notes that the growth of stablecoins in the Asia-Pacific region is driven more by practical applications than speculation, including cross-border remittances, tokenized trade, supply chain finance, and high-volume commercial activities requiring fast, low-cost settlement. Furthermore, Singapore and Hong Kong's open regulatory policies and mature fintech infrastructure have created favorable conditions for the rapid expansion of stablecoins.