Circle Targets 40 Emerging Markets for USDC Expansion
CEO Jeremy Allaire says Circle plans to enter about 40 countries as stablecoin use grows across several regions.
Key takeaways
- Circle is preparing to enter roughly 40 emerging and developing countries.
- USDC circulation rose 19% year over year to $73.3 billion in the second quarter.
- Allaire said AI is increasing security risks for financial infrastructure.
Circle is preparing to expand into roughly 40 emerging and developing countries, CEO Jeremy Allaire told Reuters. He pointed to growing demand for stablecoins across Southeast Asia, Latin America, Africa and the Middle East.
Allaire said blockchain is moving into a mainstream scaling phase. People and businesses in those regions are seeking access to an internet-based economy, he told Reuters.
USDC accounted for about 25% of the stablecoin market, compared with roughly 60% for Tether’s USDT, according to the article. USDC circulation rose 19% year over year to $73.3 billion in the second quarter.
Circle is also relying on partnerships and regulation to support its plans. Reuters reported that the company acquired payments firm Tazapay for $400 million and received a $100 million strategic investment from Binance. The GENIUS Act, the U.S. stablecoin law, is set to take effect in January.
Allaire described banks’ entry into stablecoins as healthy competition. He also said AI agents making small payments between machines are boosting USDC use, while warning that AI is raising security risks for financial infrastructure.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
