Circle Targets 40 Developing Markets as Stablecoin Remittances Cost 84% Less Than Traditional Transfers

Circle, the issuer of the USDC stablecoin, is preparing to enter approximately 40 developing markets across Southeast Asia, Latin America, Africa, and the Middle East, according to CEO and chairman Jeremy Allaire. Speaking to Reuters on the sidelines of the IMF and World Bank meetings in Bangkok, Allaire said the company is transitioning from the early adopter phase of blockchain technology into a mainstream scaling phase. He noted that businesses and individuals in these emerging markets are increasingly turning to stablecoins to access the internet-based economic system amid growing demand for dollar-denominated digital assets.

A third-quarter 2026 report from payments network Borderless.xyz underscores the economic case: stablecoin-funded remittances cost roughly 84% less than traditional money transfers. Sending $200 through stablecoin payment networks costs a median of just $2 (1%), compared with $12.72 (6.36%) for conventional channels. Savings were especially pronounced in emerging markets—in Sub-Saharan Africa, stablecoin remittances averaged 2.9% versus 8.46% for traditional transfers, while in Latin America the gap was 1.25% versus 5.64%. Business transfers also saw major cuts: a $10,000 stablecoin payment to the eurozone cost as little as $26, compared with $135 to $150 for an international bank wire including foreign-exchange fees. Settlement times dropped dramatically as well, with stablecoin payouts completing in a median of two minutes in Brazil and Colombia and three minutes in Mexico, versus next-business-day SWIFT transfers.

Reliability varied by market, however, with payment completion rates reaching 98.6% in Mexico but falling to 73% in Costa Rica—highlighting infrastructure gaps that still affect stablecoin adoption in some regions. Separately, the Solana Foundation postponed its Solana Accelerate conference in Shanghai after registrations exceeded local venue capacity limits. Solana ecosystem lead Lily Liu confirmed the decision, noting that the surge in interest underscored growing demand for developer-focused events across Asia. A rescheduled date is expected to be announced in the coming weeks.