The CEO of USD Coin (USDC) stablecoin issuer Circle Jeremy Allaire estimates that up to 70% of USDC adoption stems from nations outside of the United States.

An August 8th tweet reveals that Allaire and his team observed that the nations which are adopting USDC the fastest are emerging and developing markets, despite “the hype that we’re [Circle] all about the US.”

A similar non-American orientation for his business and stablecoin was mirrored by Paolo Ardoino, chief technical officer of rival stablecoin issuer Tether. He stated in a February tweet that the USDT can be "considered a safe tool for emerging markets and developing countries."

Allaire's remarks was timed with PayPal's announcement that it would be releasing PayPal USD (PYUSD), a stablecoin tethered to the US dollar. Allaire praised the business and Paxos and added:

“It’s incredibly exciting to see such a significant internet and payments company entering the stablecoin space. This is what happens when we start to get regulatory clarity.”

Sources:

https://cointelegraph.com/news/circle-ceo-usdc-adoption-emerging-developing-markets

https://twitter.com/jerallaire/status/1688672056898928640

https://twitter.com/paoloardoino/status/1623644473652551680