Circle is preparing a broader push into emerging economies as demand for stablecoins rises across Southeast Asia, Latin America and the Middle East, according to CEO Jeremy Allaire. He said the sector is at an inflection point, moving from an early-adopter phase in blockchain into mainstream scale.
Allaire said USDC currently has roughly $72.6 billion in circulation, giving it about a quarter of the stablecoin market, while Tether’s USDT accounts for nearly 60%. Circle has also agreed to acquire Singapore-based payments company Tazapay for $400 million, a deal he said would provide access to local banking and payment networks in more than 100 markets and support expansion in regions where USDT has traditionally been dominant.
He also pointed to Arc, a blockchain built for payments and financial transactions, and said Circle received approval for a U.S. federal trust bank in July. Allaire added that clearer regulation, including the U.S. GENIUS Act, is encouraging broader adoption. He said banks developing their own digital currencies is a positive sign, and noted that AI agents are increasingly using USDC to make small autonomous payments for information and online services.
Circle plans to expand into about 50 emerging and developing markets as demand for stablecoins rises sharply in Southeast Asia, Latin America and the Middle East, CEO Jeremy Allaire said on Oct. 16.
Allaire said the industry is at an inflection point, moving 「from the early adopter phase of blockchain technology into a mainstream scaling phase」.
USDC supply and market share
USDC currently has about $72.6 billion in circulation and accounts for roughly one-quarter of the stablecoin market, according to Allaire. Tether’s USDT holds nearly 60%.
Circle is using that backdrop to push deeper into regions where USDT has traditionally been dominant.
Tazapay deal and market access
Circle has agreed to acquire Singapore payments company Tazapay for $400 million. Allaire said the transaction would give Circle access to local banking and payment networks across more than 100 markets.
He also said Circle has launched Arc, a blockchain designed for payments and financial transactions, and received approval for a U.S. federal trust bank in July.
Regulation, banks and AI agents
Allaire said clearer rules, including the U.S. GENIUS Act, are encouraging broader adoption. He added that banks are also developing their own digital currencies and said he welcomes that trend.
「The banking industry spent a long time successfully keeping others out. I think they are no longer in control, and this is becoming a moment for innovators,」 he said.
Allaire also said AI agents are using USDC more often. These software programs can independently make small payments for information and online services.
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