Circle to acquire Tazapay to expand USDC cross-border payments
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027. The purchase price will be paid in Class A common stock, subject to adjustments for Tazapay's debt, transaction expenses, and cash, as disclosed in Circle's SEC filing. The deal requires approval from the Monetary Authority of Singapore and customary closing conditions.
Why it matters
According to Circle, the acquisition will enhance its ability to route payments globally, especially to and from the Asia-Pacific and emerging markets, expanding the use of USDC as a default payment rail for cross-border commerce. This development is positioned as a significant step toward making USDC the primary means for global payments.
Key context
Tazapay processes over $25 billion in annualized payment volume and connects more than 60 banking and fintech partners across 100 markets. Circle previously invested in Tazapay through its venture arm and has worked with the company as a design partner for the Circle Payments Network since 2025. Approximately 60% of Tazapay's transaction volume involves stablecoins.
Key numbers and entities
Circle (NYSE: CRCL), Tazapay, $400 million purchase price, more than $25 billion annualized payment volume, more than 60 partners, over 100 markets, $57.9 million raised by Tazapay across five funding rounds. Irfan Ganchi is Senior Vice President of Payments at Circle.
What remains unclear
The source does not specify the exact timeline and detailed terms of the stock payment adjustments or how the acquisition will specifically integrate Tazapay’s infrastructure into Circle’s operations. Details about potential regulatory challenges or the impacts on existing Tazapay client agreements are not provided.