Circle, the issuer of the USDC stablecoin, plans to expand into roughly 40 emerging and developing markets, CEO Jeremy Allaire told Reuters. USDC holds about 25% of the stablecoin market versus roughly 60% for Tether’s USDT, and its circulation rose 19% year over year to $73.3 billion in the second quarter. The company secured a federal banking charter in July and benefits from the upcoming U.S. stablecoin law, the GENIUS Act, set to take effect in January. Circle also completed the $400 million acquisition of Tazapay and received a $100 million strategic investment from Binance. However, Allaire warned about security risks from artificial intelligence for financial infrastructure.
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