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Circle to buy Tazapay for $400 million in stock deal

Tazapay processes more than $25 billion in annualized payment volume, with about 60% of transactions already involving stablecoins.

Reported · Written up by our desk · Market Structure

Circle agreed to acquire Singapore-based cross-border payments firm Tazapay for $400 million in stock, a deal described as Circle’s largest publicly disclosed acquisition since its 2018 purchase of crypto exchange Poloniex, according to CoinDesk.

Under the agreement, Circle will determine the number of shares using a volume-weighted average of the stock’s closing price over the 20 trading days before the deal closes, the company said in a regulatory filing. The share price will be adjusted for Tazapay’s debt, transaction expenses and cash.

Tazapay is a business-to-business payments infrastructure provider that connects payment companies and financial institutions to more than 60 banking and fintech partners, enabling collection and payouts through local rails in more than 100 markets, Circle said. The company processes more than $25 billion in annualized payment volume, with about 60% of transactions already involving stablecoins.

CoinDesk also reported that Circle said stablecoins can move across blockchains globally, but converting them into local currency typically requires regulated intermediaries, bank accounts and payout connections in each market. Circle said Tazapay would provide that last-mile infrastructure, and noted it has helped design Circle Payments Network since 2025.

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