Circle hopes that USDC will appear in more wallets around the world.

This stablecoin issuer is preparing to enter around 40 emerging and developing countries, CEO Jeremy Allaire told Reuters during a break at the International Monetary Fund and World Bank conference held in Bangkok.

Allaire points out that the natural demand for stablecoins in Southeast Asia, Latin America, Africa, and the Middle East is on the rise, with both individuals and businesses hoping to access the internet-based economy.

He said that this technology is "moving from the early adoption phase of blockchain technology to the mainstream expansion phase."

Stablecoins are cryptocurrencies that are pegged to traditional assets, usually to the US dollar. USDC of Circle accounts for about 25% of the stablecoin market, while USDT of Tether accounts for about 60%. In the second quarter, the circulation of USDC increased by 19% year-on-year, reaching 73.3 billion US dollars.

Circle possesses the resources necessary to drive this expansion, including a $400 million acquisition of payment company Tazapay, as well as a $100 million strategic investment from Binance, according to Reuters.

The company is also taking advantage of regulatory favorable conditions. It obtained a federal banking license in July, Circle, which drove up its stock price, and has been applying for a New York trust license. The US Stablecoin Act, GENIUS Act, is expected to come into effect in January. Allaire stated that this law will bring "legal digital dollars" to the world, calling it "a watershed moment."

Allaire views the launch of proprietary stablecoins by the banking industry as healthy competition. He stated that after long periods during which established institutions kept external competitors out, "they no longer hold all the power, and innovators have now come into their own moment."

Allaire also indicates that AI agents are conducting small-scale machine-to-machine payments, which is increasing the usage of USDC. Reuters reports that the Arc network of Circle has been adopted by BlackRock, Visa, and Standard Chartered. Circle has been consistently working to transform USDC into a currency used by AI agents.

However, Allaire warns that AI is also increasing the security risks of financial infrastructure. He said, "If you're not worried about this, then you're just pretending not to hear or see anything, right?"