Circle Targets Expansion into Dozens of Emerging Markets as Stablecoin Demand Rises

Circle is aiming to launch its USDC stablecoin in roughly 40 to 50 emerging and developing economies, CEO Jeremy Allaire said during interviews with Reuters on the sidelines of IMF and World Bank meetings in Bangkok. Allaire said the demand for digital dollars is rising across Southeast Asia, Latin America, Africa, and the Middle East, and that USDC’s circulation reached about $73.3 billion in the second quarter, about a quarter of the stable‑coin market behind Tether’s USDT. To support the push, Circle has spent $400 million to acquire Singapore‑based payments firm Tazapay, launched its own Arc blockchain for payments, and secured a U.S. federal trust bank charter in July.

Allaire also highlighted the impact of the upcoming U.S. GENIUS Act, set to take effect in January, which he called a watershed moment that will give legal status to digital dollars. He noted that banks are also developing their own stablecoins, a trend he welcomed as healthy competition, and that AI agents—software that can autonomously make tiny machine‑to‑machine payments—are increasingly using USDC. However, he warned that AI also raises security risks for financial infrastructure, urging vigilance.