Circle CEO Jeremy Allaire stated that the move aims to meet the growing demand for digital dollars in Southeast Asia, Latin America, and the Middle East. Allaire noted in a Friday interview with Reuters that blockchain technology is transitioning from early adoption to mainstream scaling, and stablecoins have moved beyond crypto trading into everyday payments and international remittances. Circle's USDC currently has a circulating supply of approximately $72.6 billion, accounting for about a quarter of the stablecoin market. The company has agreed to acquire Singaporean payments firm Tazapay for $400 million to access local banking and payment networks in over 100 markets, and has also launched its own blockchain, Arc, designed for payments and financial transactions.