Circle is expanding USDC across emerging and developing economies in Southeast Asia, Latin America, Africa and the Middle East. The count depends on who is reporting it, with Reuters putting the figure near 40 markets and CoinDesk closer to 50, so treat the exact number as unsettled. The distribution route is the substantive part: Circle agreed to acquire Singapore-based Tazapay for $400 million, which brings banking and payment network access in more than 100 markets, and Binance made a $100 million strategic investment. On the numbers, USDC circulation rose 19% year over year to $73.3 billion in the second quarter per Reuters, with CoinDesk data putting it near $72.6 billion currently, which is roughly 25% of the stablecoin market against Tether's near 60%. Circle generated about $1.4 billion of first-half 2026 revenue, of which $819 million, or 59%, went to distribution partners and transaction costs, which is the figure that explains why market share is worth paying for and also why it is expensive. Chief executive Jeremy Allaire tied the timing to legislation, saying that when the Genius Act becomes law "the world will have legal digital dollars," and described the industry as entering a mainstream scaling phase. He also flagged security, warning that financial infrastructure faces growing threats from sophisticated actors and "automated agent swarms," adding that "if you're not concerned about it, then your head is in the sand."