Circle Targets Dozens of New Markets as Stablecoin Use Grows
CEO Jeremy Allaire says Circle is preparing to expand in emerging markets as demand for digital-dollar payments increases.
Key takeaways
- Circle is targeting about 40 to 50 emerging and developing markets, according to two reports.
- USDC circulation reached $73.3 billion in the second quarter, CNA reported.
- Circle has agreed to buy payments firm Tazapay for $400 million.
Circle plans to expand into dozens of emerging and developing markets as demand for stablecoins grows, CEO Jeremy Allaire told Reuters. CNA reported a target of about 40 countries, while CoinDesk put the figure at about 50 markets.
Allaire said businesses and individuals are increasingly using stablecoins across Southeast Asia, Latin America and the Middle East. CNA also cited rising demand in Africa. He described blockchain as shifting from an early-adopter stage toward mainstream use.
Circle’s USDC had $73.3 billion in circulation in the second quarter, up 19% from a year earlier, CNA reported. The company holds roughly a quarter of the stablecoin market, compared with nearly 60% for Tether’s USDT, according to both reports.
Circle has agreed to buy payments firm Tazapay for $400 million. CNA also reported a $100 million strategic investment from Binance. CoinDesk said the company secured U.S. federal trust bank approval in July and launched Arc, a blockchain designed for payments and financial transactions.
Allaire said clearer rules, including the U.S. GENIUS Act, are encouraging wider adoption. He also pointed to small payments made by AI agents using USDC, while warning that expanding AI use brings greater security risks for financial infrastructure providers.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
