Circle has agreed to acquire Singapore-based payments infrastructure company Tazapay for $400 million in an all-stock transaction. The deal is expected to close in 2027, subject to regulatory approvals including clearance from the Monetary Authority of Singapore.
Tazapay brings more than 60 banking and fintech partners, local payout infrastructure across over 100 markets, and more than $25 billion in annualized payment volume. Approximately 60% of that volume already involves stablecoins.
Expanding USDC's Global Reach
For Circle, the acquisition provides banking relationships and local payment infrastructure across fragmented international markets. Circle CEO Jeremy Allaire stated that combining USDC with Tazapay's banking network and institutional customer base could accelerate worldwide adoption of stablecoins as settlement infrastructure.
Circle senior vice president of payments Irfan Ganchi said the acquisition will increase Circle's ability to originate and terminate payments globally near-instantly and 24/7, describing it as a step toward making USDC the default payment rail for cross-border commerce.
Tazapay has been a design partner for Circle Payments Network since 2025, establishing an existing operating relationship between the two companies.
Focus on Asia and Africa
According to Tazapay CEO Rahul Shinghal, Circle provides the regulatory standing and dollar infrastructure needed to expand the company's network. Industry observers have highlighted Tazapay's strength in Asia and payment corridors between Asia and Africa as areas where stablecoin infrastructure could improve efficiency.
Growing Stablecoin Settlement Activity
The acquisition comes as stablecoin payment activity accelerates across traditional finance. Visa recently reported its stablecoin settlement volume surpassed a $20 billion annualized run rate, up more than 15-fold year over year.
