Circle Targets 40 New Markets as USDC Moves Into Payments

Circle plans to enter about 40 new emerging and developing markets, Chief Executive Jeremy Allaire told Reuters on Friday, October 16. He spoke on the sidelines of the IMF and World Bank annual meetings in Bangkok. The USDC issuer wants to take digital dollar payments to businesses and people who now have limited access to them.

Demand is growing among businesses and individuals in Southeast Asia, Latin America, Africa and the Middle East, Allaire said. Those users want digital dollar payments and access to the online economy. Circle wants USDC to move beyond crypto trading into cross-border invoices, business settlement and consumer payments.

Allaire put the shift in plain terms. He said: "We're kind of going through an inflection point, a transition right now, and that transition is essentially moving from the early adopter phase of blockchain technology into the mainstream scaling phase."

The network Circle already has

Circle said in its August earnings presentation that the USDC network runs across 35 blockchain networks. The company listed more than 55 registrations and licences, reach in 185 countries, over 15 partner banks, more than 150 distribution partnerships and over 2,750 direct relationships.

The expansion has deals behind it. In September Circle announced a deal to acquire Singapore cross-border payments firm Tazapay for $400 million in stock. The deal is expected to close in 2027. Circle also announced a partnership with Binance for emerging markets and a $100 million strategic investment from Binance.

Why it matters

Stablecoins are moving from trading desks into daily payments. USDC share of adjusted stablecoin transaction volume rose from about 40 percent in 2025 to more than 60 percent in 2026, ahead of Tether USDT on that measure. USDT still leads on market capitalisation at about 60 percent, versus about 25 percent for USDC. USDC circulation grew 19 percent year on year to $73.3 billion in the second quarter.

For a small exporter or a freelancer, a digital dollar payment can settle faster than a bank transfer that passes through several intermediaries. For Circle, each new market adds users who may hold and spend USDC every week, not only when crypto prices move.

What happens next

Circle has not named the 40 target countries and has given no launch timetable. Local regulation will decide the pace. Each market has its own licence rules for dollar linked tokens and payments firms. The Tazapay deal, once it closes in 2027, would give Circle a stronger base in Singapore for cross-border payments in Asia. Until then, the work is licences, bank partners and local distribution.

Sources PYMNTS (Reuters): https://www.pymnts.com/cryptocurrency/2026/circle-targets-40-new-markets-capture-surging-stablecoin-demand/ CoinDesk: https://coindesk.cc/story/2026/10/circle-plans-push-into-40-emerging-markets-as-stablecoins-go-mainstream-ceo-says NewsBTC via TradingView: https://www.tradingview.com/news/newsbtc:05c4bdc0d094b:0-circle-targets-40-new-markets-as-usdc-push-moves-beyond-crypto-trading/