Circle plans to expand into roughly 40 emerging and developing markets as demand for stablecoins grows globally, Chief Executive Jeremy Allaire told Reuters, signaling a push to broaden the reach of its USDC dollar-pegged stablecoin beyond established markets.
Speaking on the sidelines of the International Monetary Fund and World Bank meetings in Bangkok on Oct. 16, Allaire said consumers and businesses across Southeast Asia, Latin America, Africa and the Middle East were showing growing demand for stablecoins and digital financial services.
Allaire described the industry as moving beyond early adoption toward wider commercial deployment, as people and businesses seek greater access to an internet-based economy. Stablecoins, which are designed to maintain a stable value relative to traditional currencies, can be used to transfer dollar-denominated value and support cross-border payments.
Circle’s expansion is backed by its $400 million acquisition of payments company Tazapay and a $100 million strategic investment from crypto exchange Binance. The moves strengthen the company’s position in international payments as financial institutions increasingly explore stablecoins for cross-border settlement and digital-asset transfers.
USDC circulation rose 19% year over year to $73.3 billion in the second quarter, according to the reports. Circle held roughly 25% of the global stablecoin market, compared with nearly 60% for Tether’s USDT.
In an accompanying CoinDesk report, Allaire’s comments were framed as part of a broader shift toward mainstream stablecoin use, with banks and payment companies moving beyond pilot projects to incorporate blockchain-based payments and settlement into their operations.
Allaire also pointed to clearer regulation as a potential driver of adoption, including the U.S. GENIUS Act, which was expected to take effect in January 2027. He called the legislation a watershed moment for establishing a legal framework for dollar-backed digital money.
The expansion comes as traditional financial institutions develop their own stablecoin and digital-asset offerings, increasing competition in a market that Circle sees as extending beyond crypto trading into payments and other financial services.
Allaire also warned that the growing use of artificial intelligence could increase cybersecurity risks for financial infrastructure providers, as automated systems create new demands for digital payments while potentially exposing systems to more sophisticated attacks.