Circle Plans Major Expansion Into Emerging Markets as Stablecoin Demand Climbs

Circle, the company behind USDC, is preparing to enter dozens of emerging and developing markets as demand for digital dollars rises. CEO Jeremy Allaire told Reuters that businesses and individuals across Southeast Asia, Latin America and the Middle East are turning to stablecoins for payments and other financial services. Allaire described the moment as a shift from early adoption to mainstream scaling. Reports differ on the exact number, with the headline pointing to 40 new markets and the summary mentioning about 50.

USDC Market Position Against Tether

USDC has roughly $72.6 billion in circulation, giving it about a quarter of the stablecoin market. Tether’s USDT holds close to 60%. Entering more countries means Circle will compete directly with banks and payment firms for a share of the cross border money market.

Tazapay Deal, Arc Blockchain and Regulation

Circle has agreed to buy Singapore based payments company Tazapay for $400 million, which would open local banking and payment networks across more than 100 markets, including regions where USDT has long led. The company also launched Arc, a blockchain built for payments, and received US federal trust bank approval in July. Allaire said clearer rules such as the GENIUS Act are helping adoption, and he welcomed banks building their own digital currencies, adding that banks no longer control the field and innovators are having their day.

AI Agents Using USDC

Allaire also noted growing use of USDC by AI agents, software programs that can independently make small payments for information and online services.