Circle, the issuer of USDC stablecoin, announced plans to expand into 40 developing markets across Latin America, Southeast Asia, Africa, and the Middle East. Despite a market cap of $72.5 billion, half that of USDT, USDC accounts for over 60% of stablecoin transaction volume, with revenue of $1.40 billion in the first half of the year. Visa has moved USDC cross-border payouts into commercial use across 180 countries. Circle’s new Arc blockchain, launched in September, remains marginal with less than 1% of USDC supply at $661.4 million, with the majority held on Ethereum and Solana.
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