Circle plans expansion into about 50 emerging markets for USDC
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Circle plans to enter about 50 developing markets across Southeast Asia, Latin America, and the Middle East, according to CoinDesk reporting on CEO Jeremy Allaire's comments.
Circle plans to expand its services into approximately 50 emerging and developing markets, CoinDesk reported. Circle CEO Jeremy Allaire stated in an interview that businesses and consumers across Southeast Asia, Latin America, and the Middle East are adopting stablecoins for everyday financial activities and remittances. The expansion targets market share in global cross-border payments directly against conventional payment providers and banks.
According to CoinDesk data, USDC has about $72.6 billion in circulation, giving it roughly a 25% share of the stablecoin market compared to Tether's USDT at nearly 60%. To support the expansion, Circle agreed to purchase payments platform Tazapay for $400 million, securing access to banking networks in over 100 markets. The firm also previously introduced its Arc blockchain for financial transactions and obtained U.S. federal trust bank approval in July.
Allaire attributed growing usage to clearer regulatory frameworks, including the U.S. GENIUS Act. He also highlighted increasing USDC transactions conducted by automated artificial intelligence agents for software services.
Key facts
- Circle targets ~50 new markets
- USDC circulation at $72.6B
- 25% stablecoin market share
- $400M Tazapay acquisition