According to CoinMeta, as the back company of USDC, the world's second-largest stablecoin, Circle plans to expand into around 50 emerging markets to meet the demand for digital dollars. In an interview with Reuters on Friday, Allaire pointed out that businesses and individuals in Southeast Asia, Latin America, and the Middle East are increasingly turning to stablecoins for payments and financial services. He stated, "We are experiencing a turning point, moving from the early adoption phase of blockchain technology to a mainstream expansion phase." This expansion means that Circle will compete with banks and payment companies for a share of the cross-border funding market. Circle's USDC is currently circulating at about $72.6 billion, controlling a quarter of the stablecoin market, while Tether's USDT accounts for nearly 60%. Circle has agreed to acquire Singaporean payment company Tazapay for $400 million to gain access to local banks and payment networks in over 100 markets.