Stablecoin Issuer Circle to Push Into 40 New Markets, CEO Says

3-line summary

• Circle, the world's second-largest regulated stablecoin issuer (about 25% market share, versus roughly 60% for Tether's USDT), plans to expand into about 40 emerging and developing markets, CEO Jeremy Allaire told Reuters in an interview in Bangkok at the IMF-World Bank meetings; specific country names were not disclosed, but demand was cited in Southeast Asia, Latin America, Africa, and the Middle East, where stablecoin demand from individuals and businesses is growing. No specific timeline was given.
• Allaire said blockchain is at an 'inflection point' moving from early adoption to mainstream spread, and called the US GENIUS Act, once implemented, a watershed that would create a 'legitimate digital dollar.' He said USDC usage is rising alongside growth in small-value transactions between AI agents, warned that security threats to financial infrastructure are increasing, and said bank-consortium moves to prepare their own stablecoins signal a healthy, competitive market.
• Context: Circle is expanding on the back of its $400 million Tazapay acquisition and a $100 million strategic investment from Binance. The US GENIUS Act is set to take effect in January; Circle became one of the first stablecoin issuers to receive a federal banking license in July. USDC circulation reached $73.3 billion in Q2, up 19% year-over-year, and Circle's Arc operating system has been adopted by BlackRock, Visa, and Standard Chartered, among others.

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