Stablecoin issuer Circle is looking to enter about 40 developing markets, according to the company’s CEO and chairman Jeremy Allier.
“We are currently going through an inflection point…a transition, and this transition is basically moving from the early adopter phase of blockchain technology to the mainstream scale phase,” Allier told Reuters on the sidelines of the IMF and World Bank meeting in Bangkok on Friday.
Allier reportedly said markets in Southeast Asia, Latin America, Africa and the Middle East are experiencing increased demand for stablecoins as businesses and individuals seek to enter the Internet-based economy.
Cointelegraph reported on August 24 that Bernstein analysts were upbeat about Circle, predicting a new growth cycle for its USDC stablecoin could provide a significant boost for the company over the next 12 months.
Bernstein said the next phase of stablecoin growth could be driven by several factors, including new momentum in crypto markets, greater US regulatory clarity, tokenized capital markets and the adoption of stablecoins for payments. Analysts also pointed to early signs of stablecoin use in payments made by AI agents.
Although USDC is the second largest dollar-backed stablecoin by market capitalization, far behind Tether’s USDt (USDT), it has gained a significant foothold in transaction activity. Bernstein said USDC’s share of adjusted stablecoin transaction volume rose from about 40% in 2025 to more than 60% by 2026, surpassing USDt by that measure.
On September 8, Cointelegraph reported that Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027.
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