Circle agrees to buy Tazapay for $400M
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- Circle Internet Group has agreed to buy Tazapay for $400 million in stock.
- Circle shares fell 2.7% to $99.30 during trading after the announcement.
- The deal would add Tazapay’s payment network to Circle’s global USDC infrastructure.
Circle Internet Group has agreed to acquire Singapore-based Tazapay for $400 million in stock.
The deal would be Circle’s largest acquisition since it bought crypto exchange Poloniex in 2018.
“Stablecoin settlement is becoming core infrastructure in the global economy,” said Jeremy Allaire, Circle’s co-founder, CEO and chairman.
Tazapay processes more than $25 billion in annual payments across 100 markets and has over 60 banking and fintech partners.
Following the announcement, Circle share price was down 2.7% at $99.30, while the deal is expected to close in 2027.
About 60% of Tazapay’s transaction volume already involves stablecoins, while its services include local collection and payout rails.
Circle has also acquired Hashnote, Cybavo, Elements and Malachite, while buying nearly 1,000 blockchain patents from IBM in July.
