USDC Targets 40 Markets as Local Payout Access Remains Unclear

Circle is narrowing its stated expansion target from about 50 emerging and developing markets to approximately 40, CEO Jeremy Allaire said on October 16. The company cited Southeast Asia, Latin America, Africa and the Middle East, but has not named countries, launch dates or payment corridors. The plan signals wider ambitions for USDC, not 40 newly operational services. Circle says USDC is available in more than 185 countries, but availability does not necessarily include direct redemption or local-currency bank payouts. Named corridors include India, Singapore, the Philippines, the United Arab Emirates and the European Union. Circle Payments Network had 175 enrolled financial institutions and a reported $14.7 billion annualized transaction volume at the end of June. A planned acquisition of Tazapay, whose payout network spans more than 100 markets, remains pending and is expected to close in 2027. Circle previously pointed to its Arc blockchain, a planned US federal trust bank and clearer US regulation, including the GENIUS Act, as factors supporting adoption. Allaire has also cited emerging use of USDC for small payments by AI agents. As of October 12, USDC circulation was $72.7 billion, backed by $73.0 billion in reserves; the earlier report put circulation at about $72.6 billion and noted USDC held roughly a quarter of the stablecoin market, behind USDT. Traders will watch for confirmed markets, licensed local partners and actual payout volumes to gauge whether the USDC expansion creates meaningful payment demand.