Circle plans to expand into about 40 emerging markets, with USDC circulation up 19% year-over-year.

BlockBeats news, October 17: Circle CEO Jeremy Allaire told Reuters that the company plans to enter about 40 emerging and developing markets, with a focus on Southeast Asia, Latin America, Africa, and the Middle East. He noted that as demand for stablecoins grows among individuals and businesses, blockchain is moving from the early adoption stage into mass adoption.

Currently, USDC issued by Circle accounts for about 25% of the stablecoin market, lower than Tether's USDT (about 60%). USDC circulation rose 19% year-over-year in the second quarter to $73.3 billion. Circle is supporting its business expansion through the acquisition of payments company Tazapay ($400 million) and a $100 million strategic investment from Binance.

On the regulatory front, Circle obtained a federal banking charter in July this year, and the U.S. GENIUS Act is expected to take effect in January next year. Allaire said the act will promote the development of legitimate digital dollars and is an important turning point for the stablecoin industry. He also said that small automated payments between AI agents are driving USDC usage, but AI is also intensifying security risks facing financial infrastructure.