Circle plans to enter approximately 40 emerging and developing markets, and CEO Jeremy Allaire says blockchain is moving into a mainstream scaling phase. The USDC issuer holds roughly a quarter of the stablecoin market, while Tether's USDT sits at nearly 60%.
Circle, the issuer of USDC, announced plans to enter approximately 40 emerging and developing markets on October 16, 2026. The target regions are Southeast Asia, Latin America, Africa, and the Middle East.
Allaire told Reuters in an interview Friday that businesses and individuals across Southeast Asia, Latin America and the Middle East are increasingly turning to stablecoins for payments and other financial services.
Tazapay deal and Arc blockchain back the push
Circle has agreed to buy Singapore-based payments firm Tazapay for $400 million, giving it access to local banking and payment networks across more than 100 markets. Crypto Briefing reports the deal is expected to close in 2027, pending approvals.
Circle also received a $100 million strategic investment from Binance, according to Crypto Briefing. In addition, the company launched its own blockchain, Arc, designed for payments and financial transactions, and secured U.S. federal trust bank approval in July.
USDC trails Tether in market share
USDC has about $72.6 billion in circulation, according to CoinDesk data. It controls roughly a quarter of the stablecoin market, compared with nearly 60% for Tether's USDT.
Allaire said clearer regulations, including the U.S. GENIUS Act, are encouraging wider adoption. Banks are also developing their own digital currencies, which he welcomed. Of the banking industry, he said "the innovators are having their day".
Allaire also pointed to growing use of USDC by artificial intelligence agents.
Sources: CoinDesk, Crypto Briefing
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