Circle, the company behind the world's second-largest stablecoin, USDC, plans to expand into about 50 emerging and developing markets as demand for digital-dollar payments increases across Southeast Asia, Latin America and the Middle East. Shares of Circle (CRCL) last changed hands at $82.25, with U.S. markets closed at the time of publication.

Chief Executive Jeremy Allaire told Reuters in an interview on Friday that businesses and individuals in those regions are increasingly turning to stablecoins for payments and other financial services. He added that demand for digital dollars is growing across Asia, Africa and Latin America.

"We're kind of going through an inflection point...a transition right now," Allaire said. "That transition is essentially moving from the early adopter phase of blockchain technology into the mainstream scaling phase."

The expansion comes stablecoins — cryptocurrencies designed to maintain a fixed 1:1 value against traditional currencies — move beyond crypto trading 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-transfer market.

Circle's USDC has about $72.6 billion in circulation, according to CoinDesk data, making it the world's second-largest stablecoin with roughly a quarter of the market. That still trails Tether's USDT, which holds nearly 60% of the sector.

To support the push, Circle has already agreed to buy Singapore-based payments firm Tazapay for $400 million, giving it access to local banking and payment networks across more than 100 markets. The deal could help Circle gain ground in countries where Tether's USDT has traditionally dominated.

The company has also launched its own blockchain, Arc, designed for payments and financial transactions, and secured U.S. federal trust bank approval in July. Together, the acquired payment networks, the new chain and the trust charter give Circle owned infrastructure for a multi-market rollout of this scale.

Allaire said clearer regulations, including the U.S. GENIUS Act governing stablecoins, are encouraging wider adoption. He also welcomed the fact that banks are developing their own digital currencies.

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

Allaire also pointed to growing use of USDC by artificial intelligence agents — software programs that can independently make small payments for information and online services. The use case points to demand for digital dollars that extends beyond human-to-human payments. Whether Circle's expanding infrastructure can convert that demand into adoption in markets where USDT has traditionally dominated is a key question as the rollout proceeds.