Circle Buys Singapore-Based Payments Firm Tazapay in Stablecoin Push

Circle Internet Group Inc., the stablecoin-payments platform behind USDC, has agreed to acquire Tazapay, a business-to-business cross-border payments technology developer based in Singapore. The deal is expected to close next year.

Tazapay processes more than $25 billion in payment volume annually, with approximately 60% including stablecoins. Circle sees the acquisition bringing local payout networks and new banking relationships into its fold.

The addition of Tazapay's connections to over 60 banks and fintechs can help USDC build processing volume and drive down per-transaction costs, according to Circle. The company predicts that Tazapay's coverage will make USDC the default payment rail for cross-border commerce.