Circle · U.S. · Tether · CoinDesk
Circle targets 40 new markets as stablecoin demand scales up globally
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Circle CRCL $82.25 · Market Closed, the company behind the world's second-largest stablecoin, USDC, plans to expand into about 50 emerging and developing markets as demand for digital dollars increases.
Key facts
- Circle CRCL $82.25
- Market Closed, the company behind the world's second-largest stablecoin, USDC, plans to expand into about 50 emerging and developing markets as demand for digital dollars
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- Circle has already agreed to buy Singapore-based payments firm Tazapay for $400 million, giving it access to local banking and payment networks across more than 100 markets
- Circle’s USDC has about $72.6 billion in circulation, data
Summary
Circle plans to expand into about 50 emerging and developing markets as demand for digital-dollar payments grows across Southeast Asia, Latin America and the Middle East. USDC has about $73.3 billion in circulation and roughly a quarter of the stablecoin market, trailing Tether’s USDT, which holds nearly 60 percent. Circle’s $400 million acquisition of Tazapay, new Arc blockchain and federal trust bank approval are expected to support its expansion as clearer regulations encourage stablecoin adoption. CEO Jeremy Allaire told Reuters Friday that businesses and individuals across Southeast Asia, Latin America and the Middle East are increasingly turning to stablecoins for payments and other financial services.