Circle Acquires Singapore's Tazapay for $400M to Boost USDC in Emerging Markets

Circle has acquired Singapore-based payment platform Tazapay for $400 million to boost its USDC stablecoin in emerging markets. This move will give Circle access to established payment infrastructure and local connections, which would take years to build from scratch.

The acquisition will be settled in Circle shares, with the deal expected to close in 2027 following regulatory approvals. Tazapay specializes in cross-border B2B payments and operates in over 100 markets, with an annual transaction volume exceeding $25 billion, 60% of which already involves stablecoins.

Circle's Vice President Irfan Ghanchi noted that geography matters, highlighting the significance of the acquisition for access to Asian and other emerging markets. This move follows Circle's focus on expanding its presence in payment infrastructure and its efforts to promote its cross-border payment platform, Circle Payments Network (CPN), and its L1 blockchain Arc.