Circle Eyes 40 Developing Markets as USDC Gains on USDT in 2026

Circle CEO and Chairman Jeremy Allaire announced that the stablecoin issuer is pursuing expansion into approximately 40 developing markets, citing surging demand across Southeast Asia, Latin America, Africa, and the Middle East. Speaking on the sidelines of the IMF and World Bank meetings in Bangkok, Allaire described the current moment as an inflection point in blockchain adoption, marking a transition from the early adopter phase into mainstream scaling. Businesses and individuals in these emerging regions are increasingly leveraging stablecoins to participate in the internet-based economic system, according to Allaire's remarks reported by Reuters.

The strategic push comes as USDC, Circle's flagship dollar-backed stablecoin, closes the gap with Tether's USDt in transaction volume. Analysts at Bernstein reported that USDC's share of adjusted stablecoin transaction volume climbed from roughly 40% in 2025 to over 60% in 2026, overtaking USDt by that metric. Bernstein identified several catalysts for the next phase of stablecoin growth, including renewed momentum in crypto markets, greater US regulatory clarity, tokenized capital markets, and the emerging use of stablecoins for payments by AI agents. The firm maintained a bullish outlook on Circle, projecting that a new growth cycle for USDC could significantly boost the company over the next 12 months.

Circle has been actively building infrastructure to support its global ambitions. On September 8, Circle agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027. The acquisition positions Circle to capitalize on the growing stablecoin remittance market, where a recent report found stablecoin transfers cost 84% less than traditional remittance services. With USDC still ranked as the second-largest dollar-backed stablecoin by market capitalization but gaining rapidly in actual usage, Circle's bet on emerging markets and AI-driven payment flows signals a broader ambition to anchor the next generation of digital dollar transactions worldwide.