Circle Plans Expansion Into 40 Developing Markets as Stablecoin Adoption Grows
Circle, the issuer of the USD Coin (USDC) stablecoin, plans to expand into roughly 40 developing markets across Southeast Asia, Latin America, Africa, and the Middle East. Chief Executive Officer Jeremy Allaire announced the initiative during meetings in Bangkok, stating that digital currency technology is transitioning from an early adopter phase to mainstream scaling.
The expansion comes as businesses and individuals in emerging regions seek broader access to internet-based economic systems. Although USDC remains the second-largest dollar-backed stablecoin by market capitalization behind Tether (USDT), its share of adjusted transaction volume rose from about 40% in 2025 to over 60% in 2026. Growth in stablecoin activity is being supported by renewed crypto market momentum, clearer regulatory frameworks in the United States, tokenized capital markets, and increased payment integration.
Looking ahead, market participants will track Circle's expansion efforts alongside its planned $400 million all-stock acquisition of Singapore-based cross-border payments platform Tazapay, which is expected to close in 2027. Continued growth in cross-border payment utility will be key to expanding global stablecoin usage.
Key points
- Circle CEO Jeremy Allaire announced plans to enter roughly 40 developing markets across Southeast Asia, Latin America, Africa, and the Middle East.
- USDC share of adjusted stablecoin transaction volume increased from about 40% in 2025 to more than 60% in 2026, overtaking Tether's USDT in volume.
- USDC remains the second-largest dollar-backed stablecoin by overall market capitalization.
- Circle agreed to acquire Singapore cross-border payments provider Tazapay in a $400 million deal expected to close in 2027.
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How we writeDisclaimerQuestions and answers
Why is Circle expanding into developing markets?
Circle is entering roughly 40 developing markets to meet growing demand from businesses and individuals in Southeast Asia, Latin America, Africa, and the Middle East seeking internet-based financial access.
How does USDC transaction volume compare to Tether?
While USDC ranks second in market capitalization behind Tether's USDT, USDC's share of adjusted stablecoin transaction volume climbed from about 40% in 2025 to over 60% in 2026, surpassing USDT.
What acquisition is Circle making for cross-border payments?
Circle reached an agreement to acquire Tazapay, a Singapore-based cross-border payments platform, in a $400 million all-stock transaction expected to close in 2027.