Circle has agreed to acquire Singapore-based cross-border payments platform Tazapay for $400 million in stock. The transaction is expected to close in 2027, subject to customary closing conditions and approval from the Monetary Authority of Singapore.

The deal ranks among Circle’s largest publicly disclosed acquisitions. Circle will determine the number of shares issued based on the volume-weighted average closing price of its stock over the 20 trading days preceding the closing date. The final amount will be adjusted for Tazapay’s debt, cash and transaction-related expenses.

Strategic Fit and Scale

Tazapay operates as a business-to-business payments infrastructure provider. It connects financial institutions and payment companies with more than 60 banking and fintech partners and offers local payout rails covering more than 100 markets. The platform processes over $25 billion in annualized payment volume. Roughly 60 percent of that volume already involves stablecoins.

Earlier figures had placed Tazapay’s annualized volume at $10 billion. The company has reported serving more than 1,000 companies and fintech firms across 30 countries and has doubled revenue for three consecutive years. It holds licenses or registrations in Singapore, Canada, Australia and the United States, and is pursuing additional approvals in the European Union, Hong Kong and the United Arab Emirates.

Circle and Tazapay already share operational ties. Tazapay has served as a design partner for the Circle Payments Network since 2025. Circle previously invested in the firm, including participation in its Series B funding that brought total capital raised to approximately $57.9 million. Circle Ventures later led a Series B extension.

Expanding Global Payment Capabilities

Circle framed the acquisition as a way to strengthen its ability to originate and terminate payments across Asia-Pacific and emerging markets on a near-instant, 24/7 basis. Stablecoins can move value globally on blockchain networks, yet converting them into local currency still requires regulated intermediaries, banking relationships and domestic payout infrastructure. Tazapay supplies that last-mile access.

Circle stated that Tazapay customers should experience no disruption to services, APIs, pricing or support as a result of the transaction.

Broader Acquisition Context and Market Reaction

The Tazapay purchase continues a series of infrastructure deals by Circle. Prior transactions include the acquisition of Hashnote, web3 infrastructure provider Cybavo, payments software firm Elements, blockchain consensus technology company Malachite, and nearly 1,000 blockchain patents from IBM. Circle also previously acquired the remaining stake in the Centre Consortium that controlled USDC intellectual property.

Circle shares declined approximately 2.7 percent on the day of the announcement, trading near $99.30, while remaining up more than 25 percent year-to-date.

The deal remains subject to regulatory clearances, including from Singapore’s monetary authority, and is not expected to complete until 2027.