Circle’s Allaire confirms stablecoin issuer looking to enter 40 developing markets: Report
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Markets in Southeast Asia, Latin America, Africa and the Middle East see increasing demand for stablecoins.
Key facts
- On Sept. 8, that Circle had agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027
- On Aug. 24 that analysts at Bernstein were bullish on Circle, foreseeing a new growth cycle for its USDC stablecoin may provide a significant boost for the company over the next 12 months
- Stablecoin issuer Circle is seeking to enter about 40 developing markets, according to the company’s CEO and chairman, Jeremy Allaire
- Markets in Southeast Asia, Latin America, Africa and the Middle East see increasing demand for stablecoins
Summary
Stablecoin issuer Circle is seeking to enter about 40 developing markets, according to the company’s CEO and chairman, Jeremy Allaire. “We’re kind of going through an inflection point.a transition right now, and that transition is 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. Markets in Southeast Asia, Latin America, Africa and the Middle East are experiencing increasing demand for stablecoins as businesses and individuals seek to enter the internet-based economic system, Allaire reportedly said. On Aug. 24 that analysts at Bernstein were bullish on Circle, foreseeing a new growth cycle for its USDC stablecoin may provide a significant boost for the company over the next 12 months.