Circle Acquires Singapore-Based Tazapay to Fuel Global Stablecoin Expansion

Circle is expanding its global payments network through a major acquisition of Singapore-based cross-border payments platform Tazapay. The deal will give Circle access to over 100 markets and $25 billion in annualized payment volume, with more than 60 banking and fintech partners.

Tazapay's existing stablecoin activity is significant, with around 60% of its transaction volume already using stablecoins like USDC. This indicates that businesses are adopting blockchain-based settlement to reduce costs and delays associated with traditional correspondent banking.

Circle sees this acquisition as a key step in making digital dollar payments global, citing the integration of USDC and Tazapay's banking infrastructure as a game-changer for cross-border transactions.