Circle Seeks Entry Into About 40 Developing Markets as Southeast Asia, Middle East Demand Grows
Summary
- Circle's CEO said the company is pursuing entry into about 40 developing markets.
- USDC ranks second by market capitalization, but has overtaken Tether (USDT) in trading volume.
- Investment bank Bernstein said USDC's share of adjusted stablecoin trading volume rose from about 40% in 2025 to more than 60% as of 2026.
Forecast Trend Report by Period
Circle, the stablecoin issuer, is seeking entry into about 40 developing markets, Chief Executive Officer and Chairman Jeremy Allaire said.
Allaire told Reuters at a side event during the International Monetary Fund and World Bank annual meetings in Bangkok that blockchain technology has passed an inflection point, shifting from early adoption to mainstream expansion, Cointelegraph reported on October 17.
Demand for stablecoins is rising rapidly among companies and individuals in Southeast Asia, Latin America, Africa and the Middle East seeking to join internet-based economic systems, he said.
Circle's dollar-pegged stablecoin USDC ranks second to Tether's USDT by market capitalization. By trading volume, however, it has already overtaken Tether. Bernstein said USDC's share of adjusted stablecoin trading volume rose from about 40% in 2025 to more than 60% as of 2026.
Circle also agreed in September to acquire Singapore-based cross-border payments platform Tazapay in an all-stock deal worth $400 million. The transaction is scheduled to be completed in 2027.
