Business news from Ukraine

Circle Internet Group, a U.S. fintech company and issuer of the USDC stablecoin, intends to expand its operations into approximately 40 emerging markets, banking on growing demand for digital payments and dollar-pegged stablecoins, according to Fixygen.

As Circle Chairman and CEO Jeremy Allaire told Reuters on October 16, 2026, the company views Southeast Asia, Latin America, Africa, and the Middle East as priority regions for international expansion.

According to him, the blockchain industry is transitioning from the initial stage of technology adoption to widespread commercial application. The main sources of demand are cross-border payments, international trade, corporate settlements, and financial services for consumers.

To strengthen its position in new markets, Circle previously entered into an agreement to acquire the Singapore-based payment company Tazapay for approximately $400 million. The deal, announced on September 8, provides access to an international payments infrastructure covering more than 100 markets and over 60 banking and fintech partners.

According to Circle, Tazapay’s annual payment volume, based on current growth rates, exceeds $25 billion, with about 60% of transactions already involving stablecoins.

The acquisition is expected to close in 2027, following the receipt of the necessary regulatory approvals.

In addition, on September 22, Circle announced an expansion of its partnership with the cryptocurrency exchange Binance, which invested $100 million in the company. The parties signed a new five-year agreement to expand the adoption of USDC, primarily in developing countries.

According to Reuters, as of the end of the second quarter of 2026, the amount of USDC in circulation had grown by 19% year-over-year, reaching $73.3 billion.

Circle controls approximately one-quarter of the global stablecoin market, trailing its main competitor, Tether, which holds a market share of about 60%.

The company is also developing its own blockchain infrastructure, Arc, designed for corporate settlements, the tokenization of financial assets, and international payments.

Financial institutions participating in the development and use of the Arc infrastructure include BlackRock, Visa, and Standard Chartered.

The expansion of the stablecoin market is supported by the gradual development of a regulatory framework. In the U.S., the GENIUS Act has been passed, regulating the issuance of payment stablecoins. Its main provisions are set to take effect in 2027.

At the same time, competition is growing from traditional banks, which are developing their own digital payment instruments and tokenized deposit infrastructure.

According to market participants, the expansion of stablecoin use could significantly change the structure of international payments by reducing transaction times and decreasing reliance on traditional correspondent banking networks.

Circle Internet Group is an American publicly traded fintech company founded in 2013. It specializes in developing blockchain-based payment infrastructure and issuing the digital currencies USDC and EURC. The company’s shares are listed on the New York Stock Exchange under the ticker symbol CRCL.