Circle’s Allaire says stablecoin issuer looking to enter 40 developing markets: Report

A stablecoin is a digital token designed to maintain a relatively steady value, usually by tracking a national currency such as the US dollar. It aims to combine digital transferability with less price fluctuation than many other cryptocurrencies. The source does not explain Circle’s reserve system, but it identifies USDC as a dollar-backed stablecoin.

Circle issues USDC, so the token fits the stablecoin category through its dollar connection. USDC remains behind Tether’s USDt in market capitalization, but its transaction activity has grown sharply. Bernstein said USDC’s adjusted transaction-volume share rose from about 40% in 2025 to more than 60% so far in 2026.

That combination makes USDC important to Circle’s expansion plans. Circle is seeking entry into about 40 developing markets, where businesses and individuals increasingly want access to an internet-based economic system. Wider use could also support stablecoin payments and cross-border financial activity.

Circle is looking to enter about 40 developing markets, according to CEO and chairman Jeremy Allaire. The planned expansion reflects Circle’s view that blockchain is moving beyond early adopters and into a mainstream scaling phase. That shift could bring stablecoins to many more businesses and individuals.

The regions identified are Southeast Asia, Latin America, Africa and the Middle East. These are not described as one uniform market. Instead, the article reports increasing demand across all four regions as users seek ways to participate in an internet-based economic system.

Circle’s ambitions come alongside broader expectations for stablecoin growth. Bernstein cited renewed crypto-market momentum, clearer US regulation, tokenized capital markets and payment adoption as possible drivers. Circle also agreed to acquire Singapore-based Tazapay, a cross-border payments platform, in a $400 million all-stock deal expected to close in 2027.

The article’s central explanation is access. Businesses and individuals in Southeast Asia, Latin America, Africa and the Middle East are increasingly interested in stablecoins because they want to enter the internet-based economic system. Stablecoins can provide a digital form of dollar-linked value for online economic activity, although the article does not detail each market’s specific needs.

For example, Circle’s CEO Jeremy Allaire described demand across these regions while discussing the company’s planned entry into about 40 developing markets. His comments place stablecoins within blockchain’s shift from an early-adopter phase toward mainstream scaling. The appeal is therefore broader use, not just specialist cryptocurrency trading.

The trend could strengthen if payments become a bigger use case. Bernstein identified stablecoin payments, tokenized capital markets and renewed crypto-market momentum as growth drivers. Circle’s planned Tazapay acquisition also connects its strategy with cross-border payments, potentially supporting practical use beyond trading.

USDT leads USDC decisively in market capitalization. Late Friday, USDT stood at roughly $183.4 billion, while USDC was about $72.5 billion. Both figures show that Tether’s dollar-backed stablecoin has a much larger total value in circulation, according to the CoinMarketCap data cited.

The transaction picture is different. Bernstein said USDC’s share of adjusted stablecoin transaction volume increased from about 40% in 2025 to more than 60% so far in 2026. On that measure, USDC overtook USDT, despite remaining the second-largest stablecoin by market capitalization.

This contrast matters for Circle’s growth story. Market capitalization reflects the scale of a token’s value, while transaction share indicates activity using the tokens. Bernstein viewed USDC’s stronger transaction position as part of a possible new growth cycle, alongside payments, regulatory clarity and tokenized capital markets.

Stablecoins may make cross-border activity easier by offering digital tokens that can be transferred through internet-based systems. A dollar-linked token can reduce the need to handle different local currencies during a transaction. The article presents this as part of a wider effort to enter the internet-based economic system, not as a guarantee that every payment becomes cheaper or faster.

A concrete example is Circle’s agreement to acquire Singapore-based Tazapay, a cross-border payments platform. The $400 million all-stock deal is expected to close in 2027. That partnership could connect Circle’s stablecoin business with payment infrastructure, although the article does not specify the combined product or exact benefits.

The opportunity is significant because demand is rising across four developing regions. Bernstein also identified stablecoin payments as a possible growth driver. If adoption expands, stablecoins could become more common in international payments and online commerce, while Circle moves from early blockchain users toward mainstream scaling.

Circle’s next growth phase could be shaped by several forces identified by Bernstein. Greater US regulatory clarity may reduce uncertainty around stablecoins. Tokenized capital markets could create new financial uses. Renewed momentum in crypto markets may bring more users and activity. Together, these developments could support demand beyond today’s early-adopter base.

Payments are another key mechanism. Bernstein pointed to growing stablecoin use for payments, while Circle agreed to acquire Tazapay, a cross-border payments platform. The article also notes early signs of stablecoins being used in payments made by AI agents. That suggests automated software could become another source of transaction activity.

These are possible drivers, not confirmed outcomes. USDC already shows stronger adjusted transaction activity, exceeding 60% of volume share so far in 2026. Circle is also pursuing about 40 developing markets, so regulation, financial tokenization, payment partnerships and AI use could reinforce one another as adoption expands.

A dollar-linked token can be useful across borders because the US dollar is a widely recognized unit for pricing and settlement. Users can hold or transfer a digital representation of dollar value through internet-based systems. That can simplify online transactions involving people or businesses in different countries, though the article only broadly connects stablecoins with access to the internet economy.

In general, stablecoins seek to maintain their value through mechanisms such as dollar reserves, collateral, and the ability to redeem tokens for the referenced asset. These arrangements are intended to keep the token near one dollar. The source does not state which specific reserve or redemption mechanisms Circle uses for USDC, so those details should not be attributed to this article.

USDC’s reported scale shows why stability matters to Circle’s strategy. It had roughly $72.5 billion in market capitalization and captured more than 60% of adjusted transaction volume so far in 2026. Circle is pursuing wider use across about 40 developing markets.