Circle has outlined plans to enter around 40 emerging and developing markets as stablecoin use shifts towards mainstream adoption.
The US-based stablecoin issuer is targeting markets across Southeast Asia, Latin America, Africa, and the Middle East, according to Jeremy Allaire, co-founder, CEO, and chairman of Circle. Allaire described the current period as a transition for blockchain technology, from the early adopter phase into a phase of mainstream scaling. In the regions targeted, he pointed to the growth of natural demand for stablecoins and digital utility from individuals and businesses seeking to take part in an internet-based economic system.
Acquisition and investment behind the expansion
The expansion is backed by the USD 400 million acquisition of Tazapay and a USD 100 million strategic investment from Binance. Circle currently accounts for approximately 25% of the global stablecoin market, while Tether, the issuer of USDT, holds close to 60%. Circle’s USD-backed stablecoin, USDC, reached a circulation of USD 73.3 billion in the second quarter of 2026, up 19% year on year.
Beyond issuance, Circle provides on-chain infrastructure through its Arc operating system, which has been adopted by firms including BlackRock, Visa, and Standard Chartered. This adoption is part of a wider movement among financial institutions and payment companies, which are progressing from pilot programmes to embedding stablecoins in cross-border settlement and asset transfer processes.
Regulatory clarity and bank-led competition
Clearer regulatory frameworks are contributing to stablecoin uptake. In the US, the GENIUS Act is scheduled to take effect in January 2027. Allaire characterised its entry into force as a turning point since it will establish legal digital dollars. In July 2026, Circle became one of the first stablecoin issuers to hold a federal bank charter.
Meanwhile, banking coalitions in the US and Europe are moving to develop and roll out their own stablecoins and digital asset solutions. Allaire described these efforts as a sign of a healthy and competitive market, arguing that the banking sector, which for a long time succeeded in keeping other participants out, no longer controls market access.
AI agents as a new source of demand
Allaire also attributed part of the recent growth in USDC usage to machine-to-machine transactions between AI agents. These agents make payments worth fractions of a cent when conducting web research or retrieving real-time data. The official cautioned, however, that the rapid expansion of AI is creating heightened security vulnerabilities, adding that financial infrastructure providers are confronted with increasing risks from complex actors and automated agent swarms.
Taken together, the planned market entries, the upcoming implementation of US stablecoin legislation, and the development of bank-issued alternatives indicate a stablecoin market in which competition is intensifying across both issuance and infrastructure.
