Circle has agreed to acquire Singapore-based cross-border payments firm Tazapay in an all-stock deal valued at US$400 million, according to a regulatory filing.
The deal is expected to close in 2027, subject to customary conditions and regulatory approvals, including approval from the Monetary Authority of Singapore.
Tazapay provides business-to-business payment infrastructure to payment service providers and financial institutions.
The company processes more than US$25 billion in annualised payment volume and works with over 60 banking and fintech partners.
Its local payout network covers more than 100 markets. Circle said stablecoins are already involved in about 60% of Tazapay’s transaction volume.
Circle plans to use Tazapay’s infrastructure to extend the reach of USDC payments, particularly across Asia Pacific and emerging markets.
Rahul Shinghal, Co-founder and CEO of Tazapay, said,
“We built Tazapay to make payments faster, remove friction, and streamline dependency on banking rails that don’t operate at the speed of global commerce.
Circle has the dollar infrastructure in USDC and the regulatory standing to take what we’ve built further than we could alone. That’s what makes this the right move and what we’re focused on delivering together.”
Jeremy Allaire, Co-Founder, CEO, and Chairman at Circle, said,
“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.
Tazapay has been a design partner for Circle Payments Network since 2025 and we share a deep alignment. We are excited to bring the team in-house and work together towards accelerating Circle’s mission.”
Circle Plans Employee Stock Awards, Tazapay Services Continue Unchanged
Circle will grant US$25 million in restricted stock units to agreed Tazapay employees after the acquisition closes.
The agreement also requires at least 75% of certain identified employees and certain members of senior management to remain with Tazapay as a condition of closing.
Circle previously led an extension of Tazapay’s Series B funding round.
Tazapay said customers would see no immediate changes to their services, APIs, pricing or support.
Its contracts, payout routes and settlement arrangements will also continue under their existing terms.
Featured image: Edited by Fintech News Singapore, based on image by marinademidiuk via Magnific
