Circle Internet Group is set to buy Singapore-based cross-border payments infrastructure firm Tazapay for $400 million in stock, according to a Tuesday regulatory filing. The deal brings more than $25 billion in annualized payment volume to the stablecoin issuer, along with more than 60 banking and fintech partners and payment rails covering over 100 markets. Circle said roughly 60% of those markets already include stablecoins.
Circle issues the USDC stablecoin. Jeremy Allaire, Circle's co-founder and CEO, said combining USDC with Tazapay's banking relationships, local payout rails, and institutional customer base will accelerate worldwide USDC adoption. Tazapay and Circle first formed a partnership last year, and Circle was the lead investor in Tazapay's Series B funding. The transaction is expected to close in 2027, subject to closing conditions and regulatory approvals, including approval from the Monetary Authority of Singapore.
The acquisition follows Circle's unconditional national trust charter from the Office of the Comptroller of the Currency and its purchase of a blockchain patent portfolio from IBM. TD Cowen analysts said Tazapay's role as a Circle Payments Network design partner suggested relatively limited integration risk and could give Circle greater influence over how those capabilities are deployed as USDC adoption scales.
What remains unknown is whether the deal will clear regulatory review on the expected timeline or face conditions that alter its structure. The filing did not detail the stock-based consideration's valuation mechanics, potential earnouts, or how Tazapay's existing partners will respond once the transaction closes.