Circle Acquires Tazapay to Bolster Cross-Border Payments

Circle is set to acquire Singapore-based cross-border payments platform Tazapay in a deal expected to close in 2027, pending regulatory approval from the Monetary Authority of Singapore. The acquisition aims to strengthen Circle's ability to originate and terminate payments globally, particularly in Asia-Pacific and emerging markets.

Tazapay processes significant volumes, with stablecoins making up approximately 60% of transaction volume. Circle views this as a strategic fit, given its own focus on expanding the role of stablecoins in cross-border commerce.

The deal is expected to enhance Circle's operational footprint for payment origination and termination 'near-instant and 24/7', with USDC positioned as a default rail for cross-border activity. Irfan Ganchi, Circle's senior vice president of payments, described the acquisition as 'a meaningful step towards making USDC the default payment rail for cross-border activity.'