Circle is seeking to expand into roughly 40 developing markets as demand for stablecoins grows across Southeast Asia, Latin America, Africa and the Middle East, according to CEO and chairman Jeremy Allaire.
Allaire described the cryptocurrency industry as moving beyond its early-adopter phase and into a period of broader, mainstream scaling. He made the comments to Reuters on Friday on the sidelines of the IMF and World Bank meetings in Bangkok, according to reporting cited by Cointelegraph.
Circle’s planned expansion
The markets identified by Allaire span four regions where businesses and individuals are increasingly using stablecoins as they seek access to the internet-based economy. Stablecoins are digital tokens designed to maintain a relatively stable value against an underlying asset, commonly a fiat currency such as the US dollar.
The comments point to an international expansion strategy for Circle, the issuer of USDC. The company has not been reported as naming all of the 40 markets or providing a timetable for entering them in the material available.
Demand in emerging economies is a closely watched area for the stablecoin industry because these tokens can be used within digital-asset and online payment systems. The source material, however, does not specify the products Circle would offer in each market or the regulatory arrangements required for its planned expansion.
Circle has also been pursuing growth through corporate transactions. Cointelegraph reported on Sept. 8 that the company had agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal. The transaction is expected to close in 2027.
USDC’s position in the stablecoin market
USDC remains the second-largest dollar-backed stablecoin by market capitalization, behind Tether’s USDT. However, analysts at Bernstein said USDC has made substantial progress in transaction activity.
According to Bernstein, USDC’s share of adjusted stablecoin transaction volume increased from about 40% in 2025 to more than 60% so far in 2026, putting it ahead of USDT on that measure. Market capitalization and transaction volume measure different aspects of a token’s position: the former reflects the value of tokens in circulation, while the latter tracks activity involving those tokens.
Bernstein analysts, as previously reported by Cointelegraph on Aug. 24, identified several possible drivers for the next stage of stablecoin growth. These included renewed momentum in cryptocurrency markets, increased regulatory clarity in the United States, tokenized capital markets and broader use of stablecoins for payments. They also cited early indications of stablecoins being used in payments made by artificial-intelligence agents.
Moneyiar market picture
Moneyiar market data at 21:39 on Oct. 17, 2026, showed the following prices and performance:
- STABLE: $0.0254416083, down 3.15% over 24 hours and 6.45% over seven days.
- VELO: $0.0040803379, down 3.08% over 24 hours and 17.31% over seven days.
- ARK: $0.1718649216, down 4.5% over 24 hours and 20.45% over seven days.
- VELO (Velodrome Finance): $0.0366755029, down 4.68% over 24 hours and 8.36% over seven days.
These figures represent the assets and symbols listed in Moneyiar’s market feed and are separate from Circle’s USDC market-share figures discussed above.
