Circle Bolsters Stablecoin Activity with Tazapay Acquisition
Circle has made a significant move in the world of stablecoins by acquiring Tazapay, a payments network that spans over 100 markets. This deal adds local payment infrastructure across Asia and Latin America to Circle's control, along with more than sixty banking and fintech partners.
The acquisition brings substantial digital-dollar activity to Circle, with $15 billion of Tazapay's annualized flow using stablecoins. This is a significant boost for USD Coin (USDC), as it gains access to established rails across Asia and Latin America.
Circle's CEO, Jeremy Allaire, noted that 'stablecoin settlement is becoming core infrastructure in the global economy.' With Tazapay's annualized volume exceeding $25 billion, Circle can reduce reliance on intermediaries while making cross-border USDC payments faster and easier for businesses.