Circle to acquire Singapore payments firm Tazapay for $400 million in stock
The all-stock deal would give the USDC issuer a network of banking and fintech partners across more than 100 markets, aimed at extending stablecoin use in cross-border commerce.
Circle Internet Group has signed a definitive agreement to acquire Tazapay, a Singapore-based cross-border payments company, for $400 million in an all-stock transaction, the companies said.
Tazapay operates payout rails and holds relationships with more than 60 banking and fintech partners across upwards of 100 markets, infrastructure Circle said it intends to use to extend how its USDC stablecoin moves through cross-border commerce. Circle is best known as the issuer of USDC, one of the largest dollar-backed stablecoins; Tazapay's existing bank and fintech network gives it a distribution layer into markets and payment corridors Circle did not previously reach directly.
The deal is structured entirely in stock rather than cash, meaning Tazapay's owners are being paid in Circle shares rather than a cash payout — a structure that ties the sellers' outcome to Circle's own stock performance going forward. The companies said the transaction is expected to close in 2027, subject to regulatory approvals including from the Monetary Authority of Singapore.
The acquisition extends a pattern visible across stablecoin issuers over the past year: building or buying the payment-rail infrastructure needed to actually move stablecoins into merchant and remittance flows, rather than relying only on crypto-native exchanges and wallets for distribution. Whether the deal measurably increases USDC's use in cross-border payments will depend on integration work still ahead of the companies, not on the announcement itself.