Key facts
- Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay.
- The deal is expected to close in 2027, pending regulatory approval.
- Tazapay processes over $25 billion in annualized payment volume.
- Approximately 60% of Tazapay's transactions involve stablecoins.
- The acquisition aims to enhance Circle's global payment capabilities, especially in Asia-Pacific and emerging markets.
Circle has announced its agreement to acquire Singapore-based cross-border payments platform Tazapay, a move expected to significantly expand its global payment capabilities, particularly for its USD Coin (USDC) stablecoin.
The transaction, anticipated to conclude in 2027, is contingent upon customary closing conditions and approval from the Monetary Authority of Singapore. Tazapay currently handles over $25 billion in annualized payment volume and offers payout services across more than 100 markets through partnerships with over 60 banking and fintech firms. Notably, stablecoins constitute about 60% of Tazapay's transaction volume, aligning with Circle's strategic focus.
Circle, which had previously invested in Tazapay, views this acquisition as a critical step toward establishing USDC as the default payment rail for international commerce. Irfan Ganchi, Senior Vice President of Payments at Circle, stated that the acquisition will enhance the company's ability to process payments globally, instantly and around the clock. Tazapay has also been a design partner for the Circle Payments Network since 2025.
Financial terms of the deal were not disclosed. Circle's shares experienced a decline of over 2% in premarket trading following the announcement.