Circle to Acquire Tazapay for Enhanced Cross-Border Payments
- Circle will acquire Tazapay, a Singapore-based cross-border payments platform, with the deal expected to close in 2027.
- Tazapay has an annualized payment volume exceeding $25 billion and partners with over 60 banking and fintech institutions.
- Stablecoins make up approximately 60% of Tazapay’s transaction volume, according to Circle.
- The acquisition aims to enhance Circle’s global payment capabilities, promoting USDC as a primary payment rail for international commerce.
- Circle previously invested in Tazapay during its Series B funding round, raising a total of $57.9 million.
This acquisition is set to expand Circle’s operations in Asia-Pacific and emerging markets while ensuring that Tazapay customers experience no service disruptions. The deal requires approval from the Monetary Authority of Singapore.
With Tazapay’s significant transaction volume and established partnerships, this move positions Circle to strengthen its presence in cross-border payments significantly. (Source)
