Circle plans expansion into 50 emerging markets as stablecoin demand grows
Circle eyes 50 new markets as digital dollar demand rises
Circle, the company behind the USDC stablecoin, plans to expand into about 50 emerging and developing markets. The move comes as demand for stablecoins grows across Southeast Asia, Latin America, and the Middle East.
Circle CEO Jeremy Allaire told Reuters that businesses and individuals in those regions are increasingly using stablecoins for payments and other financial services. Stablecoins are cryptocurrencies designed to hold a steady value by being pegged 1-to-1 with traditional currencies like the US dollar.
What stands out
- Circle targets roughly 50 emerging and developing markets for expansion.
- USDC has about $72.6 billion in circulation and holds roughly a quarter of the stablecoin market.
- Tether's USDT remains the market leader with nearly 60% share.
- Circle recently agreed to buy Singapore-based payments firm Tazapay for $400 million.
- The company also launched its own payments-focused blockchain called Arc and secured US federal trust bank approval in July 2026.
What the CEO said
Allaire described the current moment as an inflection point for the industry. He said blockchain technology is transitioning from its early adopter phase into what he called the "mainstream scaling phase."
He also noted that clearer regulations, including the US GENIUS Act governing stablecoins, are encouraging wider adoption. Banks are entering the space with their own digital currencies, which he welcomed rather than seeing as a threat.
"There's a very, very long time where the banking industry fought successfully to keep other people out, and I think they are no longer in charge, and the innovators are having their day," Allaire said.
Competition with Tether
Circle's acquisition of Tazapay gives it access to local banking and payment networks across more than 100 markets. The deal is seen as a way for Circle to compete more directly with Tether's USDT, which has traditionally dominated in many emerging markets.
Why this matters
Stablecoins are moving beyond crypto trading into everyday payments and international money transfers. For Circle, expanding into more markets means competing directly with banks and payment companies for a share of the cross-border payments market.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.