Circle Acquires Payments Firm Tazapay for USDC Growth

Circle, the issuer of the USD Coin (USDC) stablecoin, has announced a definitive agreement to acquire Singapore-based cross-border payments platform Tazapay. The deal, expected to close in 2027 pending customary closing conditions and regulatory approvals including from the Monetary Authority of Singapore, aims to significantly expand Circle's global payments infrastructure and accelerate the adoption of USDC for international commerce. Tazapay processes over $25 billion in annualized payment volume and serves more than 60 banking and fintech partners, offering payout rails in over 100 markets. A key aspect of the acquisition is Tazapay's existing stablecoin activity, which accounts for approximately 60% of its transaction volume. This indicates a growing enterprise adoption of blockchain-based settlement for reducing costs and delays associated with traditional correspondent banking. Jeremy Allaire, Co-Founder, CEO, and Chairman at Circle, stated that stablecoin settlement is becoming core infrastructure in the global economy. He believes combining USDC with Tazapay's banking relationships, local payout rails, and institutional client base will propel worldwide USDC adoption.