Oct 16, 2026, 6:54 a.m. EDT
2 min read
Summary
- Circle plans to expand into about 50 emerging and developing markets as demand for digital-dollar payments grows across Southeast Asia, Latin America and the Middle East.
- USDC has about $73.3 billion in circulation and roughly a quarter of the stablecoin market, trailing Tether’s USDT, which holds nearly 60 percent.
- Circle’s $400 million acquisition of Tazapay, new Arc blockchain and federal trust bank approval are expected to support its expansion as clearer regulations encourage stablecoin adoption.
Circle CRCL, the issuer of the second-biggest stablecoin globally, USDC, intends to scale into approximately 50 developing and emerging territories as interest in digital dollars surges.
Chief Executive Officer Jeremy Allaire informed Reuters during a Friday interview that people and commercial enterprises throughout the Middle East, Latin America, and Southeast Asia increasingly rely on stablecoins for financial services and transactions.
“We’re kind of going through an inflection point…a transition right now,” Allaire expressed. “That transition is essentially moving from the early adopter phase of blockchain technology into the mainstream scaling phase.”
This growth happens as stablecoins—cryptocurrencies engineered to maintain a strict one-to-one parity with fiat currencies—expand past mere crypto speculation into everyday cross-border transfers and payments. By entering additional territories, Circle places itself in direct competition with traditional banking institutions and payment processors for the global transfer market.
Circle’s USDC maintains a circulating supply of roughly $72.6 billion, referencing CoinDesk statistics. It commands around a fourth of the total stablecoin sector, contrasting with nearly 60% held by Tether’s USDT.
Circle already finalized an agreement to purchase Singaporean payments company Tazapay for $400 million, granting the firm entry into financial networks spanning over 100 regions. Such an agreement assists Circle’s penetration into areas where Tether’s USDT has historically maintained dominance. The organization subsequently revealed its proprietary blockchain, known as Arc, tailored for monetary transfers and transactions, alongside gaining U.S. federal trust bank authorization back in July.
Allaire mentioned that more defined legal frameworks, such as the U.S. GENIUS Act regulating stablecoins, are fostering broader acceptance. He also welcomed the trend of traditional banks building their own digital currencies.
“There’s a very, very long time where the banking industry fought successfully to keep other people out, and I think they are no longer in charge, and the innovators are having their day,” he stated.
Additionally, Allaire highlighted the rising adoption of USDC by artificial intelligence agents, which are software systems capable of autonomously executing microtransactions for digital services and data.
Originally published at https://www.coindesk.com/business/2026/10/16/circle-targets-40-new-markets-as-stablecoin-demand-grows-globally.
