$72.6 billion versus nearly 60%: Circle is taking its compliance credentials to 50 countries to challenge Tether’s turf 🦖
Circle CEO Jeremy Allaire told Reuters on Friday that the company plans to enter around 50 new emerging and developing markets. Users in Southeast Asia, Latin America, and the Middle East are increasingly using stablecoins for everyday payments and cross-border remittances. He called this a turning point: the shift from early adoption to mainstream scale.
📢 ⏰ 消息群里第一时间说
First, the numbers: USDC’s current circulating supply is about $72.6 billion, roughly a quarter of the entire stablecoin market. Its longtime rival Tether’s USDT, meanwhile, accounts for nearly 60%. In other words, Circle is targeting territory its competitor has been building on for years.
Its ticket to entry isn’t price—it’s compliance and distribution. This year, Circle spent $400 million to acquire Singapore-based payments company Tazapay, gaining access in one move to local banking and payment networks in more than 100 markets. In September, it launched Arc, a blockchain designed specifically for payments. In July, it also won approval for a U.S. national trust bank. Regulators are moving in its direction, too: the U.S. GENIUS Act brings stablecoins under a regulatory framework, while the EU has recognized USDC as its first significant e-money token, subject to new regulations starting November 12. ⚖️
Here’s how I see it: stablecoins are no longer just an offshoot of crypto trading. They’re now competing directly with banks and payment companies for a slice of the cross-border remittance market. Whoever has the license gets a seat at the table first. That’s what gives Circle the confidence to go after 50 markets. 💵
But don’t rush to a conclusion. Compliance doesn’t guarantee market share. Tether still has a stronger network effect and greater liquidity. Users care about depth, not licenses. Whether those 50 markets can really lift USDC’s circulating supply above $72.6 billion will depend on whether local banks are willing to support it—and whether users embrace it. Allaire also said AI agents are already using USDC to pay small bills. That could be the next source of growth. 📈
How much of the cross-border remittance market do you think stablecoins will ultimately capture—or will they remain confined to the crypto world? Join the discussion in the comments.
Tap the profile picture to watch the livestream.
Every day, we bring you the latest on stablecoins and crypto—not just what’s happening, but the logic and opportunities behind the headlines. 👀🚀
Circle CEO Jeremy Allaire told Reuters on Friday that the company plans to enter around 50 new emerging and developing markets. Users in Southeast Asia, Latin America, and the Middle East are increasingly using stablecoins for everyday payments and cross-border remittances. He called this a turning point: the shift from early adoption to mainstream scale.
📢 ⏰ 消息群里第一时间说
First, the numbers: USDC’s current circulating supply is about $72.6 billion, roughly a quarter of the entire stablecoin market. Its longtime rival Tether’s USDT, meanwhile, accounts for nearly 60%. In other words, Circle is targeting territory its competitor has been building on for years.
Its ticket to entry isn’t price—it’s compliance and distribution. This year, Circle spent $400 million to acquire Singapore-based payments company Tazapay, gaining access in one move to local banking and payment networks in more than 100 markets. In September, it launched Arc, a blockchain designed specifically for payments. In July, it also won approval for a U.S. national trust bank. Regulators are moving in its direction, too: the U.S. GENIUS Act brings stablecoins under a regulatory framework, while the EU has recognized USDC as its first significant e-money token, subject to new regulations starting November 12. ⚖️
Here’s how I see it: stablecoins are no longer just an offshoot of crypto trading. They’re now competing directly with banks and payment companies for a slice of the cross-border remittance market. Whoever has the license gets a seat at the table first. That’s what gives Circle the confidence to go after 50 markets. 💵
But don’t rush to a conclusion. Compliance doesn’t guarantee market share. Tether still has a stronger network effect and greater liquidity. Users care about depth, not licenses. Whether those 50 markets can really lift USDC’s circulating supply above $72.6 billion will depend on whether local banks are willing to support it—and whether users embrace it. Allaire also said AI agents are already using USDC to pay small bills. That could be the next source of growth. 📈
How much of the cross-border remittance market do you think stablecoins will ultimately capture—or will they remain confined to the crypto world? Join the discussion in the comments.
Tap the profile picture to watch the livestream.
Every day, we bring you the latest on stablecoins and crypto—not just what’s happening, but the logic and opportunities behind the headlines. 👀🚀