Circle to acquire Tazapay in $400 million deal
Circle will also grant Tazapay employees restricted stock units worth an aggregate $25 million after the acquisition closes.
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US-based stablecoin issuer Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a deal valued at $400 million.
Under the share purchase agreement filed with the US Securities and Exchange Commission (SEC), Circle will pay the consideration entirely in its Class A common stock. The $400 million amount will be adjusted for Tazapay’s unpaid indebtedness, transaction expenses and cash, according to the filing.
Circle will also grant Tazapay employees restricted stock units worth an aggregate $25 million after the acquisition closes. The awards will vest in eight equal quarterly instalments, beginning around 27 months after closing.
The transaction is expected to close in 2027, subject to regulatory approvals, including approval from the Monetary Authority of Singapore.
Tazapay provides cross-border payments infrastructure to payment service providers and financial institutions. It has more than $25 billion in annualised payment volume, over 60 banking and fintech partners and local payout rails across more than 100 markets, according to Circle.
Around 60% of Tazapay’s transaction volume already involves stablecoins.
“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,” said Jeremy Allaire, co-founder, CEO and chairman of Circle, in a statement.
The deal will bring Tazapay’s banking relationships and local payout infrastructure into Circle’s payments ecosystem. Tazapay has been a design partner for Circle Payments Network since 2025.
"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," said Rahul Shinghal, Co-Founder and CEO of Tazapay, "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," he added.