Circle Acquires Tazapay for $400M, Expanding USDC Settlement Capabilities

Circle, a well-known stablecoin issuer, has agreed to acquire Tazapay, a Singapore-based payout platform, in an all-stock deal valued at approximately $400 million. The acquisition is expected to be completed by 2027 and will allow Circle to expand its USD Coin (USDC) settlement capabilities across more than 100 markets.

Tazapay currently handles over $25 billion in annualized payment volume and has partnerships with more than 60 banking and fintech firms. The platform's local payout rails cover over 100 markets, with stablecoins accounting for around 60% of its transaction volume.

Circle's Senior Vice President of Payments, Irfan Ganchi, described the deal as a way to facilitate cross-border commerce at any hour. Chief Executive Jeremy Allaire expects the acquisition to accelerate USDC adoption in markets where Circle does not currently have a presence.