Circle targets 40 new markets as stablecoin demand grows globally
The stablecoin issuer’s CEO Jerermy Allaire told Reuters demand for digital dollars is growing across Asia, Africa and Latin America as banks and payment firms.
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Summary
- Circle plans to expand into about 50 emerging and developing markets as demand for digital-dollar payments grows across Southeast Asia, Latin America and the Middle East.
- USDC has about $73.3 billion in circulation and roughly a quarter of the stablecoin market, trailing Tether’s USDT, which holds nearly 60 percent.
- Circle’s $400 million acquisition of Tazapay, new Arc blockchain and federal trust bank approval are expected to support its expansion as clearer regulations encourage stablecoin adoption.
