Circle (CRCL) is gearing up to enter around 40 emerging and developing nations with blockchain adoption anticipated to grow, Reuters reported Friday, citing company chief executive officer and chairman Jeremy Allaire.

Organic demand for stablecoins is increasing in Southeast Asia, Latin America, Africa and the Middle East, Allaire told the media outlet at the sidelines of the IMF and World Bank meetings in Bangkok.

Circle holds about 25% of the global stablecoin market share, according to the report.

Circle did not immediately reply to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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