Circle Acquires Tazapay to Supercharge Stablecoin Adoption

Circle, the issuer of the USDC stablecoin, has acquired Tazapay, a Singapore-based cross-border payments infrastructure company. The deal is expected to close next year and aims to accelerate adoption of Circle's USDC stablecoin by leveraging Tazapay's banking relationships and local payout rails.

Tazapay brings over $25 billion in annualized payment volume, 60-plus banking and FinTech partners, and local payout rails covering more than 100 markets. The company has already processed transactions worth 60% of its total volume using stablecoins.

Irfan Ganchi, senior vice president of payments at Circle, said the acquisition will increase Circle's capability to originate and terminate payments globally near-instantly and 24/7, making USDC a default payment rail for cross-border commerce.