Circle is buying Tazapay to turbocharge USDC as a global payments rail in a $400 million all-stock deal announced on 8 September 2026. That catapults Circle Internet Group, Inc. (NYSE: CRCL), USDC issuer, from stablecoin provider to full-stack cross-border infrastructure company.
Based in Singapore, Tazapay is an enterprise B2B platform that underpins payment facilitators and institutions, concentrating over $25 billion in annualized volume across more than 100 countries through over 60 banking and fintech partners.
Buying Live Payout Rails at Scale
The acquisition is a form of vertical integration. Tazapay offers last-mile fiat collection and payout rails that blockchains alone do not have. By acquiring a network where stablecoins account for 60% of volume, Circle sidesteps the need to establish country-by-country licenses, and strengthens its payments network (with whom Tazapay has been a design partner since 2025).
Source: Investopedia
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Industry Background
On the heels of Circle’s June Form I-1 filing for an IPO in the United States, we have the enactment of the new federal US stablecoin and crypto law called the GENIUS Act and a move by Circle to become a regulated payment system provider under a stablecoin settlement license with USD reserves as a central bank digital currency (CBDC).
The deal with Tazapay brings into question the competitive stance between Ripple, Tether, and various fintechs for the B2B segment. This is a great opportunity for investors, exchanges, regulators, and developers to explore new territories with great potential, as Tazapay is licensed in key jurisdictions such as Singapore, Canada, Australia, and the US, with EU, Hong Kong, and UAE pending applications.
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Developments to Come
Closing the merger will require the approval of a Singaporean financial regulatory body, which is the Monetary Authority of Singapore (MAS). As per the agreement, the share exchange between Circle and Tazapay will be determined using a 20-day volume-weighted average price of its tokens (VWAP).
In the deal, they have not given up their team, as Tazapay employees who will become part of the Circle team will be retained by issuing up to $25 million through performance-based Restricted Stock Units (RSUs).
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