Circle plans to expand into about 50 emerging markets, saying stablecoins have entered a mainstream scale phase.

BlockBeats news, October 16: Circle CEO Jeremy Allaire said demand for stablecoins is growing significantly in Southeast Asia, Latin America, and the Middle East, and the company plans to expand into about 50 emerging and developing markets. He said the industry is at an inflection point, "moving from the early adopter phase of blockchain technology into the mainstream scaling phase." Currently, USDC circulation is about $72.6 billion, accounting for about one-quarter of the stablecoin market, while Tether's USDT accounts for nearly 60%. Circle has agreed to acquire Singapore payment company Tazapay for $400 million, gaining access to local banking and payment networks in more than 100 markets, which will help it expand in regions traditionally dominated by USDT.

Circle has also launched Arc, a blockchain designed specifically for payments and financial transactions, and in July received approval from the U.S. federal trust bank. Allaire said clearer regulation, including the U.S. GENIUS Act, is encouraging broader adoption; banks are also developing their own digital currencies, which he welcomed. "The banking industry successfully blocked others from entering for a long time. I think they no longer dominate, and innovators are ushering in their own era." He also noted that AI agents' use of USDC is growing, and these software programs can independently make micropayments for information and online services.