Circle, issuer of USDC, the world’s second-largest stablecoin, plans to expand into around 40 emerging and developing markets, particularly in Southeast Asia, Latin America and the Middle East. CEO Jeremy Allaire announced the offensive on the sidelines of IMF and World Bank meetings in Bangkok, describing it as a tipping point in cryptocurrency adoption. USDC has approximately 73 billion dollars in circulation, accounting for nearly a quarter of the stablecoin market, far behind Tether’s 60 % share. The offensive builds on the 400 million dollar acquisition of Tazapay, the launch of the Arc blockchain and the US federal trust bank charter obtained in July. Circle aims to compete with banks and payment companies on their own ground in cross-border transfers.
Source: Read the original article
