Circle's Allaire Says Stablecoin Issuer Is Looking To Enter 40 Developing Markets: Report

Markets in Southeast Asia, Latin America, Africa and the Middle East are witnessing an increase in demand for stablecoins.

Circle, the stablecoin publisher, is looking to enter about 40 developing markets, according to Jeremy Aller, the company's CEO and president.

Aller said markets in Southeast Asia, Latin America, Africa and the Middle East are experiencing increased demand for stablecoins as businesses and individuals look to enter the Internet-based economy.

Cointelegraph reported on August 24 that analysts at Bernstein are bullish on Circle, predicting that a new growth cycle for its USDC stablecoin could provide a significant boost to the company over the next 12 months.

Bernstein said the next phase of stablecoin growth could be influenced by several factors, including a resurgence in crypto markets, greater clarity of US regulatory regulations, tokenized capital markets and the growing acceptance of stablecoins for payments. Analysts also noted early signs of stablecoins being used in payments made by artificial intelligence agents.

Although USDC remains the second dollar-backed stablecoin by market capitalization, it has gained a significant foothold in transaction activity after USDt Tether (USDT). Bernstein said that USDC's share of adjusted stablecoin transaction volume has risen from around 40% in 2025 to more than 60% so far in 2026, surpassing USDt by that measure.

On September 8, Cointelegraph reported that Circle has agreed to buy Singapore-based cross-border payments platform Tazapay. The $400 million all-stock deal is expected to close in 2027.