US-Based Circle To Acquire Payments Firm Tazapay
US-based Circle Internet Group has agreed to acquire Singapore-based Tazapay, a company specializing in cross-border payments. The deal, valued at approximately $400 million, is expected to close in 2027.
Circle Internet Group, a US-based digital currency company, has entered into a definitive agreement to acquire Tazapay, a Singapore-headquartered startup focused on cross-border business payments. While deal terms were not fully disclosed, reports suggest the transaction is an all-stock deal valued around $400 million.
The acquisition, anticipated to be finalized in 2027 pending regulatory approvals, aims to advance Circle's objective of building global digital finance infrastructure. Circle, known for its USD Coin (USDC) stablecoin, stated that integrating Tazapay's banking relationships, payout capabilities, and institutional client base will accelerate worldwide USDC adoption.
Tazapay, founded in 2020, provides an API for businesses to manage international collections, multi-currency holdings, and global supplier payments. The company reports an annualized payment volume exceeding $25 billion and has established payout capabilities in over 100 markets.
The transaction follows Tazapay's recent Series B funding round, where it raised $36 million five months prior, with Circle among the participants. The acquisition offers an exit for investors including Peak XV Partners, which first backed Tazapay in 2023.