Circle Targets 40 Developing Markets for USDC Stablecoin Expansion

Circle, the issuer of the USDC stablecoin, is setting its sights on approximately 40 developing markets as it seeks to capitalize on surging global demand for dollar-pegged digital assets, according to CEO and Chairman Jeremy Allaire. Speaking on the sidelines of the IMF and World Bank meetings in Bangkok, Allaire described the current moment as an "inflection point," arguing that blockchain technology is transitioning from its early adopter phase into mainstream scaling. He pointed to Southeast Asia, Latin America, Africa, and the Middle East as regions where businesses and individuals are increasingly turning to stablecoins as a gateway to the internet-based economic system.

The expansion push comes amid a dramatic shift in stablecoin market dynamics. According to analysts at Bernstein, USDC's share of adjusted stablecoin transaction volume climbed from roughly 40% in 2025 to more than 60% so far in 2026, overtaking Tether's USDT by that measure even though USDC remains second in raw market capitalization. Bernstein identified several growth drivers behind the trend, including renewed momentum in crypto markets, greater US regulatory clarity, the rise of tokenized capital markets, and notably, early signs of stablecoin adoption for payments made by AI agents.

Circle is bolstering its international infrastructure to support the expansion. On September 8, the company agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027. Bernstein's analysts have projected that a new growth cycle for USDC could provide a significant boost to Circle over the next 12 months, reinforcing the case that stablecoins are rapidly becoming critical financial infrastructure across both emerging and developed economies.