Circle, a stablecoin issuer, has formed a strategic partnership with BitoGroup and Taiwan FamilyMart, the second-largest convenience store chain in Taiwan. The collaboration aims to enhance the value of loyalty points and facilitate entry into the digital economy for the Taiwanese market. Through the Taiwan FamilyMart App and the BitoPro Exchange, customers can now convert their FamilyMart loyalty points, known as FamiPoints, into digital currencies like USDC. This conversion process incurs zero transaction fees and preserves the value of loyalty points, making cryptocurrency more accessible to a wider audience. This move aligns with Circle’s goal of pushing the boundaries of digital asset innovation. Taiwan is known for its dense network of convenience stores, where loyalty points hold significant value. The partnership with BitoGroup and Taiwan FamilyMart allows Circle to tap into this market and provide everyday utility to users. BitoGroup, with a membership base of nearly 800,000 and a market share of about 90% in Taiwan, offers various services including a crypto exchange, an NFT empowerment platform, and a metaverse-focused social media platform. This collaboration marks a transition from physical convenience stores to online experiences, supporting access to innovative financial tools and strengthening Taiwan’s position in the digital economy. Circle’s partnership with BitoGroup and Taiwan FamilyMart is part of its broader strategy to collaborate with consumer internet brands and financial institutions in the Asian markets. Since June, Circle has been focused on transforming how consumers and institutions in the APAC region engage with the digital dollar, particularly USDC, for faster and more efficient financial transactions.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Donghao Liu |
| Companies | Market Intelligence & Consulting Institute (MIC), Donghao Liu, BitoGroup, Taiwan FamilyMart, Circle |
| Currencies | USDC |
| Securities | None |
