Circle targets 40 new markets as global stablecoin demand grows

Circle targets 40 new markets — Circle, the issuer of the USDC stablecoin, plans to expand into about 50 new markets, primarily in developing nations, as demand for digital-dollar payments surges globally.

CEO Jeremy Allaire told Reuters that demand is growing significantly across Southeast Asia, Latin America, Africa, and the Middle East, driven by banks and payment firms seeking efficient cross-border transactions. The company’s expansion strategy targets emerging economies where traditional financial infrastructure is often lacking.

Circle’s USDC is the world’s second-largest stablecoin with approximately $73.3 billion in circulation, capturing roughly a quarter of the market. It trails Tether’s USDT, which holds a dominant market share of nearly 60%.

The firm’s recent $400 million acquisition of cross-border payments platform Tazapay, the launch of its new Arc blockchain, and its approval as a federal trust bank are expected to support this global push. Allaire indicated that clearer regulatory frameworks in various jurisdictions are encouraging broader stablecoin adoption.