Circle agrees to buy cross-border payments firm Tazapay for $400 million
Stablecoin issuer Circle has agreed to acquire cross-border payments firm Tazapay for $400 million in stock. The acquisition aims to integrate Tazapay's global payment infrastructure, which already processes significant stablecoin volume, into Circle's existing network.
Why it matters
This deal provides Circle with critical 'last-mile' banking and payout infrastructure, reducing its reliance on individual country-by-country network building and accelerating global stablecoin adoption.
Stablecoin issuer Circle agreed to pay $400 million in stock for Singapore-based cross-border payments company Tazapay in one of its largest publicly disclosed acquisitions to date.
The USDC issuer will calculate the number of shares using their volume-weighted average closing price during the 20 trading days before the deal closes, according to a regulatory filing . The price will be adjusted for Tazapay’s debt, transaction expenses and cash.
Tazapay is a business-to-business payments infrastructure firm that connects payment companies and financial institutions to more than 60 banking and fintech partners, allowing them to collect and pay out money through local rails in over 100 markets, according to its website .
The company processes more than $25 billion in annualized payment volume, with approximately 60% of transactions already involving stablecoins, Circle said.
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