Circle Spends Big on Tazapay as Uniswap Takes the Lead

Circle has acquired Tazapay for $400 million in an all-stock deal. The payments platform, which handles more than $25 billion in annualized payment volume, is expected to integrate with Circle's existing network.

The acquisition comes as Uniswap surpassed Circle to become the second-highest fee-generating crypto protocol after Tether. Uniswap generated approximately $66.8 million in protocol fees over the past week, outperforming Circle by a significant margin.

Circle's Senior Vice President of Payments, Irfan Ganchi, stated that Tazapay extends Circle's coverage to move money anywhere stablecoin payments are being adopted globally. The acquisition is expected to close in 2027 pending regulatory approvals.