Circle Buys Tazapay to Expand USD Coin Settlement Globally

Circle, the USDC issuer, has agreed to buy Singapore-based Tazapay for approximately $400 million in stock. The deal is expected to close by 2027 and will extend USD Coin (USDC) settlement across over 100 markets.

Tazapay handles more than $25 billion in annualized payment volume and works with over 60 banking and fintech partners, with stablecoins accounting for around 60% of its transaction volume. The company connects payment firms and financial institutions to these partners through local payout rails covering more than 100 markets.

Circle's Chief Executive Jeremy Allaire said the deal will speed up USDC adoption in markets Circle does not yet reach, with Tazapay CEO Rahul Shinghal stating that his firm needed Circle's dollar infrastructure and regulatory standing to move past banking rails that lag global commerce. Irfan Ganchi, Circle's senior vice president of payments, framed the purchase as a way to move money worldwide at any hour, pushing USDC toward becoming the default rail for cross-border commerce.