Circle 40 is targeting new markets with growing demand for stablecoins globally

Jeremy Aller, CEO of publisher Stablecoin, told Reuters that demand for digital dollars is growing across Asia, Africa and Latin America as banks and payment companies.

Circle CRCL, the company behind the world's second largest stablecoin, USDC, plans to expand to around 50 emerging and developing markets as demand for digital dollars increases.

"We're going through a turning point ... a transition right now," Aller said. This transition is essentially moving from the initial adoption phase of blockchain technology to the major scaling phase.

This expansion comes as stablecoins, cryptocurrencies designed to maintain a constant 1:1 value against traditional currencies, move beyond crypto trading and into everyday payments and international money transfers. For Circle, entering more markets means competing directly with banks and payment companies for a share of the cross-border money market.

USDC Circle has about $72.6 billion in circulation, according to CoinDesk data. It controls roughly a quarter of the stablecoin market, compared to roughly 60% for Tether's USDT.

Circle has already agreed to buy Singapore-based payments company Tazapay for $400 million, giving it access to local banking and payment networks in more than 100 markets. The deal could help Circle expand into countries where USDT Tether has traditionally dominated. The company also launched its own blockchain, Arc, designed for payments and financial transactions, and secured approval from the US Federal Trust Bank in July.

Aller said clearer regulations, including the US GENIUS Act governing stablecoins, would encourage wider adoption. Banks are also developing their own digital currencies, something he welcomed.

"It's been a very, very long time that the banking industry has fought successfully to keep other people out, and I think they're no longer in charge and the innovators are having their day," he said.

Allaire also noted the growing use of USDC by artificial intelligence agents, software programs that can autonomously make small payments for online information and services.

Diversified RWA stablecoins maintain a 5-7% return on real credit as crypto capital drops to 4%. GENIUS increases performance off-chain. TAM increases to $4 billion in 3 years.