- Circle Internet Group agreed to acquire Singapore-based cross-border payments platform Tazapay for about $400 million in Circle securities.
- The transaction is expected to close in 2027, subject to customary conditions and regulatory approvals, including approval from the Monetary Authority of Singapore.
- Circle said the acquisition would expand its global payments infrastructure and support broader use of USDC in cross-border settlements.
Circle Internet Group has agreed to acquire Singapore-based B2B cross-border payments platform Tazapay in a transaction valued at about $400 million that is expected to close in 2027. Circle said the acquisition would expand its global payments infrastructure by adding Tazapay’s banking relationships and local payment rails.
Under the agreement, Circle plans to acquire all outstanding Tazapay shares that it or its affiliates do not already own, according to a Form 8-K filing submitted to the U.S. Securities and Exchange Commission. Circle will pay the consideration in its securities.
The final purchase price may be adjusted to account for Tazapay’s debt, cash and transaction-related expenses. The number of Circle shares issued to the sellers will be based on the volume-weighted average price over the 20 trading days before closing.
Circle will withhold a portion of the securities to cover potential liabilities under the acquisition agreement.
Regulatory approvals required
The transaction remains subject to customary closing conditions and required regulatory approvals, including approval from the Monetary Authority of Singapore. Until the acquisition closes, Tazapay’s services, application programming interfaces, pricing and customer support will continue operating without changes.
Tazapay works with more than 60 banking and financial-technology partners and supports local payouts in more than 100 markets. Its annual payment volume exceeds $25 billion, and about 60% of transactions on the platform are already tied to stablecoins.
The company has participated in the Circle Payments Network since 2025. Circle Chief Executive Jeremy Allaire said integrating Tazapay’s banking infrastructure and local payment rails should help drive further adoption of USDC for cross-border settlements.
According to CoinDesk, the Tazapay acquisition would be one of Circle’s largest publicly disclosed deals. Circle has previously acquired Hashnote, Cybavo and other infrastructure projects.
Circle has also bought about 1,000 patents covering blockchain and financial-technology applications.
Source: Incrypted
