Circle Targets Expansion Into 40 Developing Markets

Stablecoin issuer Circle is seeking to enter about 40 developing markets as demand for stablecoins increases across Southeast Asia, Latin America, Africa, and the Middle East, according to the company's CEO and chairman, Jeremy Allaire.

Speaking on the sidelines of the IMF and World Bank meetings in Bangkok, Allaire told Reuters that the industry is experiencing an inflection point and transition from the early adopter phase of blockchain technology into the mainstream scaling phase.

Growth Factors

Analysts at Bernstein previously indicated that a new growth cycle for the USDC stablecoin could provide a significant boost for the company over the next 12 months. According to Bernstein, the next phase of stablecoin growth could be driven by renewed momentum in crypto markets, greater US regulatory clarity, tokenized capital markets, and growing adoption of stablecoins for payments, alongside early signs of stablecoin use in payments made by AI agents.

Although USDC remains the second-largest dollar-backed stablecoin by market capitalization behind Tether's USDt, its share of adjusted stablecoin transaction volume rose from about 40% in 2025 to more than 60% in 2026, overtaking USDt by that measure. Circle also recently agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027.

Key facts

• Circle plans to enter approximately 40 developing markets.
• Demand for stablecoins is rising in Southeast Asia, Latin America, Africa, and the Middle East.
• USDC's share of adjusted transaction volume rose from 40% in 2025 to over 60% in 2026.
• Circle agreed to acquire Tazapay in a $400 million all-stock deal expected to close in 2027.