Circle Buys Tazapay for $400M to Expand USDC Payment Processing

Circle, the issuer of the US dollar-pegged stablecoin USDC ($1.00 · Live), has agreed to acquire Tazapay, a Singapore-based company that specializes in international payment processing, for approximately $400 million in shares.

The deal, which was finalized on September 4, will see Circle take over all of Tazapay's outstanding shares, excluding those already held by the company. The acquisition is expected to be completed by 2027, pending regulatory approval from authorities such as the Singaporean Monetary Authority (MAS).

Tazapay has over 60 banking and fintech partners, with a network that spans more than 100 markets. The company's annualized settlement volume exceeds $25 billion, with around 60% of its transactions involving USDC.