- Key insights: Circle Internet Group is acquiring Singapore-based business-to-business cross-border payments company Tazapay for $400 million in stock.
- What's at stake: Tazapay's last-mile infrastructure will help Circle expand its own infrastructure and USDC distribution in the Asia-Pacific region and emerging markets, where demand for USDC-denominated transactions is growing.
- Forward look: The deal is expected to close in 2027.
Circle Internet Group is expanding its reach in the Asia-Pacific region with the acquisition of Singapore-based payments company Tazapay.
The stablecoin issuer has agreed to buy Tazapay, a business-to-business, cross-border payments company, for $400 million in stock, the company said Tuesday. The deal is expected to close in 2027, subject to customary closing conditions, including approval from the Monetary Authority of Singapore.
"Stablecoin settlement is becoming core infrastructure in the global economy, and combining USDC with Tazapay's world-class banking relationships, local payout rails, and institutional customer base will accelerate worldwide USDC adoption," said Jeremy Allaire, co-founder, CEO, and chairman at Circle, said in a statement. Tazapay has been a design partner in the Circle Payments Network since 2025, and Circle invested in Tazapay's Series B in March.
Tazapay holds money transmitter licenses in Singapore, India, Hong Kong and the U.S., and processed around $25 billion in annualized payment volume as of July 31, 2026. The company has more than 60 fintech and bank partners, and has payout rails in more than 100 markets.
The deal will help Circle diversify its revenue and expand its own infrastructure and USDC distribution in the Asia-Pacific region and other emerging markets where demand for USDC-denominated transactions is growing, according to Keybanc analysts. The deal would also save Circle time in building infrastructure in the region.
"The proposed acquisition expands Circle's global payments infrastructure and USDC distribution as it adds the last-mile infrastructure that connects USDC and Circle Payments Network to local currencies and markets at scale," Keybanc analysts said in a research note.
"Use cases include global accounts, payouts, ramps, rewards, and P2P," the analysts said. "Verticals span travel, online gaming, e-commerce, fintech, SaaS platforms, digital products, and white-label solutions for fintechs, marketplaces, and platforms."
The deal comes as more banks hedge their bets with stablecoins. Last week, a group of 21 financial institutions across North America, Europe, East Asia, the Middle East and Africa — including Bank of America, PNC Financial Services, Wells Fargo, Banco Santander, MUFG Bank — said they
Another stablecoin venture called Open Standard received the endorsement of more than 140 banks, fintechs, payments companies, and crypto firms in June. Open Standard plans to
"This acquisition will increase Circle's capability to originate and terminate payments globally, near-instant and 24/7, which is a meaningful step toward making USDC the default payment rail for cross-border commerce," said Irfan Ganchi, senior vice president of payments at Circle, said in a statement.
