Circle, stablecoin issuer, to expand into 40 new markets, says CEO
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(Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto) by Selena Li Stablecoin issuer Circle CRCL.N is currently making significant efforts to establish a presence in about 40 emerging and developing countries around the world, as blockchain adoption is expected to see significant growth, Jeremy Allaire, CEO and chairman of the company, told Reuters. "We are kind of going through an inflection point... a transition right now, and that transition is essentially moving from the early adopter phase of blockchain technology to mainstreaming at scale," said Allaire, who is also the co-founder of the New York Stock Exchange-listed company. He was speaking on the sidelines of the IMF and World Bank meetings in Bangkok. In regions such as Southeast Asia, Latin America, Africa and the Middle East, there is a growing organic demand for stablecoins and digital services from individuals and businesses wishing to integrate into an internet-based economic system, Allaire added. Circle, the world's largest regulated stablecoin issuer, is accelerating its global expansion, supported by the acquisition of Tazapay for 400 million dollars and a 100 million dollar strategic investment from Binance. The company holds about 25% of the global stablecoin market share, while its competitor, USDT, issued by Tether...
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