Circle Buys Singapore-Based Cross-Border Payments Company Tazapay for $400 Million
Circle, the US-based stablecoin issuer and payments platform, has announced its acquisition of Tazapay, a Singapore-based cross-border payments company, in an all-stock deal worth $400 million. The transaction is expected to close in 2027 pending regulatory approval from the Monetary Authority of Singapore.
Tazapay processes over $25 billion in annualized payment volume and serves more than 60 banking and fintech partners across over 100 markets, with stablecoins accounting for about 60% of its transaction volume. The acquisition marks a significant expansion of Circle's payment capabilities, allowing it to become a payments operator rather than just a token issuer.
Circle's senior vice president of payments, Irfan Ganchi, stated that the deal will increase the company's ability to originate and terminate payments globally, near-instantly and 24/7. This is seen as a step towards making USDC the default settlement layer for international commerce.