Circle CEO Allaire outlines plan to enter 40 developing markets

Circle CEO Jeremy Allaire has stated the stablecoin issuer is planning to enter approximately 40 developing markets, targeting regions with rising demand for digital dollars.

Allaire made the comments in an interview with Reuters on Friday, October 17, on the sidelines of the IMF and World Bank meetings in Bangkok. He described the current period as an inflection point where blockchain technology is moving from early adoption into a mainstream scaling phase.

The company is focusing on markets in Southeast Asia, Latin America, Africa, and the Middle East, where businesses and individuals are increasingly seeking stablecoins to participate in the internet-based economy. This expansion strategy follows Circle’s recent agreement to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal.

While USDC remains the second-largest stablecoin by market cap, analysts at Bernstein noted in August that its share of adjusted stablecoin transaction volume has risen significantly, from about 40% in 2025 to over 60% so far in 2026, overtaking Tether’s USDT by that metric.