Circle announces 2.4 trillion boom: Asia relies on stablecoins

“Asia has the highest adoption rate for stablecoins in the world,” said Yam Ki Chan, Circle’s vice president for Asia-Pacific, at an event in Singapore.
Between June 2024 and June 2025, the stablecoin issuer reports $2.4 trillion in on-chain stablecoin activity in the APAC region. With 69 percent growth within a year, it is the world's fastest-growing stablecoin exchange.
Regional leaders Singapore and Hong Kong have become the second and third largest stablecoin markets in the world, respectively, after the United States. Both cities are considered international financial centers.
With quarterly growth of 20 percent in the third quarter of 2025, the sector outperformed traditional asset classes. This was primarily driven by interest from institutional investors and regulatory clarity provided by the U.S. GENIUS Act.
There is also a trend toward greater regulatory transparency in Asia. Hong Kong's own stablecoin law came into effect on August 1, creating one of the world's first comprehensive licensing systems.
Circle made headlines in June with one of the largest crypto IPOs in history. CRCL shares are currently trading at $149.7, up 25 percent month-over-month.

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