Circle Expands Global Stablecoin Reach Through $400 Million Tazapay Acquisition

Circle Internet Group (CRCL), the world's second-largest issuer of the USDC dollar stablecoin, has announced its plan to expand its stablecoin payment network to over 100 countries worldwide.

The company has signed a final contract to acquire Tazapay, a Singapore-based company specializing in B2B cross-border payment infrastructure, for approximately $400 million in stock. This is the largest transaction revealed by Circle since its acquisition of cryptocurrency exchange Polonix in 2018.

According to a filing with the U.S. Securities and Exchange Commission (SEC), the final acquisition price may be adjusted based on Tazapay's debt, transaction costs, and cash conditions. The deal is expected to be finalized in 2027 after meeting all regulatory authorities' approval, including that of the Singapore Monetary Authority (MAS).

With this acquisition, Circle plans to accelerate the large-scale distribution of USDCs targeting markets worldwide. Tazapay's B2B infrastructure specializes in global payment networks for payment service providers and various financial institutions, handling over $25 billion in annual settlement volume with more than 60 banks and fintech partners.