Circle, the issuer of the USDC stablecoin, is preparing to enter roughly 40 emerging and developing countries, CEO Jeremy Allaire said, describing a push powered by organic international demand, fresh capital, and new U.S. regulation.

Allaire told Reuters on the sidelines of the International Monetary Fund and World Bank meetings in Bangkok that Circle wants USDC in a lot more wallets around the world. He pointed to rising organic demand for stablecoins across Southeast Asia, Latin America, Africa, and the Middle East, where people and businesses are looking to tap into an internet-based economy. For readers new to the asset class, that means a token pegged to the dollar is designed to move dollar-equivalent value across the internet — the kind of access Allaire says those regions are seeking.

Blockchain, he said, is moving "from the early adopter phase of blockchain technology into the mainstream scaling phase."

Stablecoins are cryptocurrencies pegged to a traditional asset, usually the U.S. dollar. Circle's USDC holds about 25% of the stablecoin market, compared with roughly 60% for Tether's USDT. USDC's circulation rose 19% year over year to $73.3 billion in the second quarter. Those circulation figures are one measurable signal to watch as the 40-market rollout progresses.

Circle has resources in place for the expansion, including its $400 million acquisition of payments firm Tazapay and a $100 million strategic investment from Binance, Reuters reported.

The company is also leaning on regulatory tailwinds at home. Circle secured a federal banking charter in July, a milestone that sent its stock higher, and has pursued a New York trust charter as well. The GENIUS Act, the U.S. stablecoin law, is slated to take effect in January. Allaire said the legislation would give the world "legal digital dollars," calling it "a watershed moment." The January effective date puts a fixed regulatory checkpoint on the calendar alongside the international expansion, and the outcome of Circle's New York trust charter pursuit is another step to track.

Banks are building their own stablecoins, a development Allaire framed as healthy competition. After a long stretch in which incumbents kept outsiders out, he said, "they are no longer in charge, and the innovators are having their day."

Allaire also credited AI agents making tiny machine-to-machine payments with boosting USDC usage. Circle has been pushing to make USDC the currency of AI agents, and its Arc blockchain network has been adopted by asset manager BlackRock, payments company Visa, and Standard Chartered, according to Reuters.

At the same time, Allaire warned that AI is heightening security risks for financial infrastructure. "If you're not concerned about it, then your head is in the sand, right?" he said.