Circle, issuer of USDC, the world's second-largest stablecoin, plans to expand into about 50 emerging and developing markets as demand for digital-dollar payments grows across Southeast Asia, Latin America and the Middle East, CEO Jeremy Allaire told Reuters. USDC has about $72.6 billion in circulation, roughly a quarter of the stablecoin market, compared with nearly 60% for Tether's USDT. Circle has agreed to buy Singapore-based payments firm Tazapay for $400 million, gaining access to local banking and payment networks in more than 100 markets, and it launched its Arc blockchain and secured US federal trust bank approval in July. Allaire credited clearer rules, including the GENIUS Act, for wider adoption, and noted growing use of USDC by AI agents that make small payments for information and services.
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Circle plans to expand into roughly 40 emerging and developing countries, CEO Jeremy Allaire told Reuters, saying blockchain is entering a mainstream scaling phase. USDC holds about 25% of the stablecoin market versus roughly 60% for Tether's USDT, and its circulation rose 19% year over year to $73.3 billion in the second quarter. Circle has resources for the push, including its $400 million acquisition of payments firm Tazapay and a $100 million strategic investment from Binance. It secured a federal banking charter in July, which sent its stock higher. Allaire called the GENIUS Act, set to take effect in January, "a watershed moment," but warned that AI raises security risks for financial infrastructure.
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Circle (NYSE: CRCL) says it will expand its USDC stablecoin into 40 new markets as global demand grows, particularly across Asia, Latin America and the Middle East. CEO Jeremy Allaire said businesses and individuals are increasingly using stablecoins for payments, marking a shift from early adoption to mainstream use. USDC has about $72.6 billion in circulation, roughly a quarter of the stablecoin market versus nearly 60% for Tether's USDT. Earlier this year, Circle agreed to buy Singapore-based payments firm Tazapay for $400 million, gaining access to banking and payment networks in more than 100 markets. CRCL shares have fallen 33% over the past 12 months and trade at $86.43.
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