Stablecoin issuer Circle has reached an agreement to acquire Singapore-based cross-border payments enterprise Tazapay for $400 million in stock, marking one of its most substantial public acquisitions to date.
According to a regulatory filing, the USDC creator will determine the quantity of shares utilizing their volume-weighted average closing price over the 20 trading sessions prior to the transaction’s completion. This valuation will be modified based on Tazapay’s existing debt, cash reserves, and transaction costs.
As outlined on its website, Tazapay operates as a business-to-business payment infrastructure network that bridges payment providers and financial institutions with more than 60 banking and fintech collaborators, enabling them to disburse and gather funds through domestic payment networks spanning over 100 markets.
Circle noted that the company handles upwards of $25 billion in annualized transaction volume, with stablecoins currently driving roughly 60% of those operations.
In March, Tazapay reported that it supported over 1,000 corporate clients and fintech entities across 30 nations while doubling its revenue for three consecutive years, a milestone accompanied by a Series B funding extension backed by Circle Ventures.
The enterprise currently maintains licenses or registrations in Canada, Singapore, Australia, and the U.S., alongside pending applications in Hong Kong, the United Arab Emirates, and the European Union.
Although stablecoins can traverse global blockchains effortlessly, converting them back into fiat currency necessitates regulated intermediaries, local bank accounts, and payout channels in individual territories. Acquiring Tazapay grants Circle immediate access to this critical final-mile infrastructure, sparing the firm from having to construct the framework country by country.
Circle was already well-acquainted with the operations of the firm. As stated in Circle’s acquisition announcement, Tazapay has assisted in formulating the Circle Payments Network since 2025.
This purchase extends Circle’s ongoing acquisition streak. In 2025, it invested roughly $100 million for Hashnote, the creator of the tokenized money-market vehicle USYC, and previously bought web3 infrastructure enterprise Cybavo in 2022. The acquisition of Tazapay stands as Circle’s costliest buyout since its 2018 purchase of the digital asset exchange Poloniex.
Additionally, Circle disbursed $209.9 million in stock in 2023 to acquire Coinbase’s remaining half of the Centre Consortium, which managed the intellectual property of USDC.
Separate transactions have brought in payments software developer Elements, blockchain consensus technology developer Malachite, and—in July—close to 1,000 blockchain patents originating from IBM.
Finalization of the Tazapay transaction is anticipated for 2027, pending standard regulatory clearances, including permission from the Monetary Authority of Singapore. While the deal remains open, Tazapay’s pricing, support, and services are projected to remain unaltered.
During the current trading session, CRCL shares experienced a 2.7% decline, bringing them to $99.3, though they maintain a year-to-date increase exceeding 25%.
Prior to publication, neither Tazapay nor Circle provided a response to CoinDesk’s inquiries for comment.
Originally published at https://www.coindesk.com/business/2026/09/08/circle-agrees-to-buy-cross-border-payments-firm-tazapay-for-usd400-million.
