Circle is preparing to expand into about 50 emerging and developing markets as demand for digital-dollar payments increases across Southeast Asia, Latin America and the Middle East, according to reporting by CoinDesk based on comments from Circle Chief Executive Jeremy Allaire to Reuters.
Circle targets new markets
The company behind USDC, the world’s second-largest stablecoin, sees a shift in how digital assets are being used. Stablecoins are cryptocurrencies designed to maintain a fixed value against a traditional currency. USDC is intended to track the US dollar, allowing users to hold and transfer a digital representation of the currency through blockchain networks.
Allaire said businesses and individuals in several regions are increasingly using stablecoins for payments and other financial services. He described the industry as moving from an early-adopter period into a phase focused on broader, mainstream use.
Circle’s planned expansion would take it into roughly 50 emerging and developing markets. The company is seeking a larger role in cross-border payments and international money transfers, areas traditionally served by banks and payment companies. The move would also put Circle into more direct competition with established providers and with Tether, whose USDT remains the largest stablecoin by market share.
The company’s strategy reflects the widening use of stablecoins beyond cryptocurrency trading. In principle, a digital dollar can be transferred across blockchain networks, while its dollar-linked design is intended to reduce the price volatility associated with many other cryptocurrencies. The source material identifies payments and financial services as increasingly important use cases.
USDC’s market position
USDC has approximately $73.3 billion in circulation, according to the figures cited in the source material, and represents about one-quarter of the stablecoin market. Tether’s USDT has nearly 60% of the market, leaving Circle’s product as the clear number two despite its substantially smaller share.
CoinDesk data cited in the report put USDC circulation at about $72.6 billion. The two figures are presented as approximate measures from different references, but both indicate the scale of Circle’s digital-dollar operation.
For Circle, increasing circulation and reaching users in new countries are closely connected. Wider availability could make USDC more useful for companies and individuals seeking digital-dollar payment or transfer services. At the same time, markets where USDT has historically been more established may be difficult to enter, particularly where local payment connections and banking access are important.
Acquisitions, blockchain and regulation
Circle has agreed to acquire Singapore-based payments company Tazapay for $400 million. The deal is expected to give Circle access to local banking and payment networks covering more than 100 markets. Those connections could support the company’s efforts to distribute USDC and expand its payment services, including in markets where Tether has traditionally had a stronger presence.
Circle has also launched Arc, its own blockchain designed for payments and financial transactions. A dedicated network could provide infrastructure for the company’s expanding stablecoin and payments strategy, although the source material does not provide operating or adoption figures for Arc.
Another part of the company’s expansion plan is its approval for a US federal trust bank, secured in July. The source material links that approval, the Tazapay transaction and the Arc launch to Circle’s international growth plans.
Allaire also pointed to clearer regulation as a factor supporting broader stablecoin adoption. He specifically cited the US GENIUS Act, which governs stablecoins. The report says banks are developing their own digital currencies as well, a development Allaire welcomed.
Circle is also observing a newer potential use for USDC: payments made by artificial-intelligence agents. These are software systems capable of making small payments independently for information and online services. The source material identifies this as an emerging area of use, without providing transaction volumes or revenue figures.
Moneyiar market picture
Moneyiar market data recorded at 21:34 on October 17, 2026, showed the following prices and moves:
- Cronos (CRO): $0.0567309322, down 2.53% over 24 hours and 6.55% over seven days.
- Stable (STABLE): $0.02550251, down 3.01% over 24 hours and 6.14% over seven days.
- Comedian (BAN): $0.0540418656, down 2.58% over 24 hours and 11.2% over seven days, based on data recorded at 21:33.
- ONEchain (ONE): $0.1007288032, down 3.82% over 24 hours and 25.55% over seven days.
These figures are Moneyiar data at the stated times and cover the listed assets; they are not measures of USDC’s circulation or of the overall stablecoin market.
