Circle is stepping up its push into emerging markets as it seeks broader adoption for USDC. Jeremy Allaire, the company’s CEO and chairman, told Reuters in Bangkok during the International Monetary Fund and World Bank annual meetings that Circle is actively entering about 40 emerging and developing countries, saying blockchain adoption is nearing a much larger expansion phase.
Allaire says blockchain is moving beyond early adopters
Allaire said the industry is at "a turning point," with blockchain technology moving from the early-adopter stage into mainstream scale. He said demand for stablecoins is rising organically among consumers and businesses in Southeast Asia, Latin America, Africa, and the Middle East, as they look to join an internet-based economy.
Reuters cites Tazapay acquisition and Binance investment
Reuters said Circle’s international expansion is supported by two deals: a $400 million acquisition of Singapore-based cross-border payments company Tazapay and a $100 million strategic investment from Binance.
The ABMedia report added that Chain News had previously reported Circle acquired Tazapay in an all-stock transaction, while Binance invested $100 million in Circle and renewed its partnership for five years.
USDC holds about 25% share, behind USDT
According to Reuters, Circle is the world’s largest regulated stablecoin issuer, with about 25% market share. Rival Tether’s USDT accounts for nearly 60%.
The report said USDC circulation rose 19% year over year in the second quarter to $73.3 billion.
Regulation seen as a key adoption driver
Allaire said regulation is an important force behind stablecoin adoption. The U.S. GENIUS Act is scheduled to take effect in January next year. He described that moment this way: "When the GENIUS Act goes into effect, the world will have a legal digital dollar ... that is a watershed."
Circle also became one of the earliest stablecoin issuers to obtain a federal banking charter in July this year. ABMedia said Chain News had previously reported that Circle secured a trust bank charter from the Office of the Comptroller of the Currency, or OCC.
Banks and AI agents are adding to usage growth
Allaire said banking alliances in the U.S. and Europe are also accelerating the launch of their own stablecoin and digital asset offerings. He said that points to a healthy and competitive market, adding, "The banking industry was very successful for a long time in keeping others out. I don’t think they are in charge anymore. Now it’s time for innovators."
He also said a surge in machine-to-machine payments between AI agents is increasing USDC usage. Those agents make sub-one-cent micropayments while conducting internet research or retrieving real-time data.
Circle also provides on-chain infrastructure through Arc. Reuters said institutions including BlackRock, Visa, and Standard Chartered have adopted it. The ABMedia report added that Chain News had previously reported BlackRock and Visa were founding validators when the Arc mainnet went live. Allaire also said on X the same day that Circle’s payment network products are expanding quickly and usage has grown sharply.
Allaire warns about rising security risks
Allaire also warned that the rapid expansion of AI is creating greater security risks for financial infrastructure. He said companies are facing threats from sophisticated attackers and automated agent groups, adding, "If you’re not worried about this, your head is in the sand."
Circle has not disclosed the specific list of those roughly 40 markets.
Asia appears to be one of the main targets
Based on Circle’s current positioning, Southeast Asia appears to be one of the focal points of this expansion. Allaire gave the interview in Bangkok, and Tazapay, the company Circle acquired, is headquartered in Singapore.
For businesses and users in Asia, broader USDC availability across more markets would add another option for U.S. dollar-denominated, real-time settlement in cross-border remittances and commercial payments. Still, regulatory progress on stablecoins differs from country to country, and whether Circle can enter these markets smoothly will depend on local rules. The report said it also remains to be seen whether Taiwan is included in the group of 40 markets.