Circle Eyes 40 Developing Markets as Stablecoin Demand Surges Globally

Circle CEO Jeremy Allaire has announced that the USDC stablecoin issuer is preparing to enter roughly 40 developing markets across Southeast Asia, Latin America, Africa, and the Middle East, according to a Reuters report from the sidelines of the IMF and World Bank meetings in Bangkok. Speaking on Friday, Allaire described the current moment as an "inflection point" in blockchain adoption, marking a shift "from the early adopter phase of blockchain technology into the mainstream scaling phase." He attributed the growing demand to businesses and individuals in emerging economies seeking access to internet-native financial infrastructure.

Analysts at Bernstein are bullish on Circle's next growth cycle. In a research note dated August 24, the firm highlighted several catalysts expected to drive stablecoin adoption over the next 12 months, including renewed momentum in crypto markets, greater US regulatory clarity, the rise of tokenized capital markets, and expanding stablecoin use in payments. The analysts also flagged early signs that AI agents are beginning to leverage stablecoins for autonomous transactions — a development that could significantly expand utility and transaction volume.

USDC has been gaining ground against Tether's USDT, the dominant dollar-backed stablecoin by market capitalization. According to Bernstein, USDC's share of adjusted stablecoin transaction volume climbed from approximately 40% in 2025 to over 60% so far in 2026, overtaking USDT by activity even as it trails in total supply. This shift signals growing institutional and enterprise preference for USDC's regulatory-compliant infrastructure.

Circle continues to bolster its global payments capabilities through strategic acquisitions. On September 8, the company agreed to acquire Singapore-based payments platform Tazapay in a $400 million all-stock deal expected to close in 2027. The acquisition will strengthen Circle's cross-border payments network as it scales into emerging markets where remittance demand and dollar-denominated digital assets are seeing rapid uptake.