AI Agent · Circle · U.S. · New York · Decrypt
Circle Gears up Push Into 40 Emerging Markets as Stablecoins Go Mainstream, CEO Confirms
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Circle wants USDC in a lot more wallets around the world.
Key facts
- Circle has resources for the push, including its $400 million acquisition of payments firm Tazapay and a $100 million strategic investment from Binance, Reuters reported
- USDC’s circulation rose 19% year over year to $73.3 billion in the second quarter
- The stablecoin issuer is preparing to enter roughly 40 emerging and developing countries, CEO Jeremy Allaire told Reuters on the sidelines of the IMF and World Bank meetings in Bangkok
- Allaire pointed to rising organic demand for stablecoins across Southeast Asia, Latin America, Africa, and the Middle East from people and businesses looking to tap into an internet-based economy
Summary
Circle plans to expand into roughly 40 emerging and developing countries, CEO Jeremy Allaire told Reuters, saying blockchain is entering its “mainstream scaling phase.” USDC holds about 25% of the stablecoin market versus roughly 60% for Tether’s USDT, and its circulation rose 19% year over year to $73.3 billion in the second quarter. Allaire called the GENIUS Act, set to take effect in January, “a watershed moment,” but warned that AI is heightening security risks. The stablecoin issuer is preparing to enter roughly 40 emerging and developing countries, CEO Jeremy Allaire told Reuters on the sidelines of the IMF and World Bank meetings in Bangkok. Allaire pointed to rising organic demand for stablecoins across Southeast Asia, Latin America, Africa, and the Middle East from people and businesses looking to tap into an internet-based economy.