Circle CEO Allaire Reveals Plans to Expand Stablecoin Services Across 40 Emerging Nations: Report
Growing appetite for stablecoins emerges across Southeast Asia, Latin America, Africa and Middle Eastern regions.
According to Jeremy Allaire, CEO and chairman of Circle, the stablecoin issuer has plans to expand its operations into approximately 40 developing markets around the globe.
"We're kind of going through an inflection point...a transition right now, and that transition is essentially moving from the early adopter phase of blockchain technology into the mainstream scaling phase," Allaire told Reuters, speaking Friday on the sidelines of the IMF and World Bank meetings in Bangkok.
According to Allaire's reported statements, regions including Southeast Asia, Latin America, Africa and the Middle East are witnessing a surge in stablecoin demand as both businesses and individual users look to participate in the internet-based economic ecosystem.
On Aug. 24, Cointelegraph reported that Bernstein analysts expressed optimistic views regarding Circle, anticipating that a fresh growth cycle for the company's USDC stablecoin could deliver substantial benefits to the organization throughout the coming 12 months.
According to Bernstein, multiple factors could propel the next wave of stablecoin expansion, including revitalized momentum within cryptocurrency markets, enhanced regulatory clarity from US authorities, the tokenization of capital markets and increasing stablecoin adoption for payment purposes. The analysts additionally highlighted emerging indicators of stablecoin utilization in transactions conducted by AI agents.
While USDC continues to hold its position as the second-largest dollar-pegged stablecoin measured by market capitalization, trailing behind Tether's USDt (USDT), it has made considerable progress in terms of transaction activity. According to Bernstein, USDC's portion of adjusted stablecoin transaction volume climbed from approximately 40% in 2025 to exceeding 60% in 2026 thus far, surpassing USDt when evaluated by this metric.
Cointelegraph reported on Sept. 8 that Circle had reached an agreement to purchase Tazapay, a Singapore-headquartered cross-border payments platform, in an all-stock transaction valued at $400 million that is anticipated to conclude in 2027.