[Update 13:30 UTC, Sept. 8: Adds the $400 million purchase price and stock payment terms disclosed in Circle’s SEC filing.]
Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay in a $400 million all-stock deal expected to close in 2027.
Circle will pay in Class A common stock, with the purchase price subject to adjustments for Tazapay’s debt, transaction expenses and cash, according to a filing with the US Securities and Exchange Commission.
The transaction will also require customary closing conditions and approval from the Monetary Authority of Singapore, Circle said in a Tuesday announcement.
Tazapay has more than $25 billion in annualized payment volume and serves more than 60 banking and fintech partners with local payout rails covering more than 100 markets. The company said in August 2025 that annualized payment volume was more than $10 billion.
Circle previously invested in Tazapay through Circle Ventures, including in the startup’s August 2025 Series B round. Tazapay has raised $57.9 million across five funding rounds, according to Tracxn data.
Stablecoins account for about 60% of Tazapay’s transaction volume, according to Circle. The company said the acquisition will expand its ability to route payments to and from Asia-Pacific and emerging markets.
“This acquisition will increase Circle’s capability to originate and terminate payments globally, near-instant and 24/7, which is a meaningful step toward making USDC the default payment rail for cross-border commerce,” said Irfan Ganchi, senior vice president of payments at Circle.
Tazapay has been a design partner for the Circle Payments Network since 2025. Circle said Tazapay customers should see no disruption to their services, APIs, pricing or support.
Circle’s (CRCL) NYSE-traded shares were down more than 2% in Tuesday’s premarket activity, at last look, according to Yahoo Finance.
Related: Bernstein sees new USDC growth cycle, sets $140 Circle price target
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