Stablecoin issuer Circle plans to expand its operations into around 40 developing markets, according to CEO and chairman Jeremy Allaire. The company aims to leverage rising demand in regions including Southeast Asia, Latin America, Africa, and the Middle East.
Global expansion strategy
Allaire outlined Circle’s ambitions while attending IMF and World Bank meetings in Bangkok. He noted that the company sees the current moment as a pivotal turning point, describing it as a shift from the early adopter stage of blockchain technology toward broader, mainstream adoption.
Businesses and individuals in emerging economies are increasingly seeking digital solutions for internet-based financial activities. The growing appetite for stablecoins in these markets reflects broader trends within the global digital economy, Allaire stated. He pointed to factors such as limited access to traditional banking and the need for faster, cheaper cross-border payments as drivers behind this demand.
Circle is a US-based fintech firm known for issuing the USDC stablecoin, which is pegged one-to-one with the US dollar. The company has positioned itself as a key player in providing digital dollar infrastructure to users worldwide.
USDC’s rising market presence
Market analysts at Bernstein, a global research and brokerage firm, have projected a new growth cycle for Circle’s USDC stablecoin. According to an August 24 report, they expect USDC’s expanding role could offer significant gains for Circle in the coming year.
Bernstein identified several factors that may accelerate stablecoin adoption: recovering momentum in the crypto markets, increasing regulatory clarity in the United States, the rise of tokenized capital markets, and broader payment usage. The analysts also mentioned emerging use cases involving AI-powered agents conducting transactions via stablecoins.
Despite trailing Tether’s USDT in overall market capitalization, USDC has made notable advances in transaction volume. Bernstein reported that USDC’s share of adjusted stablecoin transaction volume grew from about 40% in 2025 to more than 60% in 2026, placing it ahead of USDT by this metric.
| Stablecoin | Market Cap Rank | Share of Transaction Volume (2025) | Share of Transaction Volume (2026) |
|---|---|---|---|
| USDC | 2 | 40% | 60%+ |
| USDT | 1 | N/A | <60% |
Bernstein analysts highlighted that the next wave of stablecoin growth may be “driven by several factors, including renewed momentum in crypto markets, greater US regulatory clarity, tokenized capital markets and growing adoption of stablecoins for payments.”
Strategic acquisitions
On September 8, Circle reportedly agreed to acquire Singapore-based Tazapay, a cross-border payments firm, in an all-stock transaction valued at $400 million. The deal is expected to finalize in 2027 and is intended to strengthen Circle’s cross-border payment infrastructure.
Tazapay provides digital payment solutions for businesses looking to streamline international transactions. The acquisition is likely to boost Circle’s ability to serve enterprise customers and expand in key target regions.
Mini dictionary: Tazapay, a Singapore-based company, specializes in facilitating cross-border payments for businesses, enabling merchants to collect and disburse funds across multiple countries with enhanced compliance and fraud prevention tools.
Allaire commented on the company’s vision, noting that expanding into developing markets aligns with Circle’s broader goal of enabling global access to the internet-based financial system.
