Circle Snaps Up Tazapay for $400m to Supercharge Global USDC Expansion
Circle, the issuer of the dollar-pegged USDC stablecoin, has made a significant move to expand its global reach by acquiring Singapore-based paytech Tazapay in an all-stock deal worth $400 million. The acquisition aims to bolster Circle's capabilities in cross-border payments and increase adoption of USDC.
Tazapay is a payments infrastructure provider that connects businesses to over 100 markets and offers local payment methods across various sectors. With around 60% of its $25 billion annualised transaction volume coming from stablecoins, the acquisition will help Circle combine USDC with Tazapay's banking relationships and institutional customer base.
According to Jeremy Allaire, co-founder, CEO, and chairman of Circle, this acquisition will accelerate global adoption of USDC. Irfan Ganchi, senior vice president of payments at Circle, added that the deal will increase Circle's capability to originate and terminate payments globally, near-instant and 24/7.
The acquisition is set to complete in 2027, subject to customary closing conditions and receipt of regulatory approvals from authorities including the Monetary Authority of Singapore (MAS).