Circle Expands Into 40 Markets Amid Global Stablecoin Surge
Circle targets 40 new markets as stablecoin demand grows globally
Circle, the company behind the USDC stablecoin, plans to expand into about 40 new emerging and developing markets as demand for digital-dollar payments rises globally, CEO Jeremy Allaire said in comments reported by Reuters.
Allaire said businesses and individuals across Southeast Asia, Latin America, and the Middle East are increasingly using stablecoins for payments and other financial services. A separate snippet attributed to Reuters also pointed to growing demand across Asia, Africa, and Latin America involving banks and payment firms.
The expansion push comes as USDC remains the world’s second-largest stablecoin. USDC has about $73.3 billion in circulation and represents roughly a quarter of the stablecoin market, trailing Tether’s USDT, which holds nearly 60%.
Circle has framed the current environment as a shift in blockchain adoption. Allaire described the market as moving from an “early adopter” phase toward a “mainstream scaling” phase, as more real-world payment and settlement activity shifts to stablecoin rails.
Circle’s international buildout also follows a deal announced in September to acquire Tazapay, a Singapore-based B2B cross-border payments infrastructure company. The transaction is expected to close next year. Circle said the acquisition is intended to accelerate USDC adoption by leveraging Tazapay’s banking relationships, local payout rails, and institutional customer base.
Tazapay has more than 60 banking and fintech partners and local payout rails covering more than 100 markets, according to Circle.
The broader context is that stablecoins—crypto tokens designed to maintain a steady value, typically pegged to the U.S. dollar—are increasingly being used for cross-border transfers and business payments. Circle’s planned market expansion highlights how stablecoin issuers are positioning themselves to serve demand outside the U.S. and Europe, particularly in regions where digital dollars can offer an alternative payments option for companies and consumers.
