Circle Targets 100+ Markets and $25B Flows in Major USDC Payments Expansion Deal

Key Takeaways:

• Circle has entered a definitive deal to acquire a Singapore-based cross-border payments platform, Tazapay.
• With payout coverage in 100+ markets, more than $25 billion in annualized payment volume, and over 60 banking and fintech partners, Tazapay is here for the right reasons.
• Circle has seen around 60% of Tazapay’s traffic already funnel into stablecoins, furthering the work to make a USDC payment rail go global.

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Circle is set to make another big move in the eStablecoin payments space. The USDC issuer announced that top payments global payments infrastructure provider Tazapay, headquartered in Singapore, is being acquired to drive global stablecoin adoption, while Circle’s payments offering also expands into the rest of the world.

The deal, as well as any necessary regulatory approvals, is expected to close in 2027, subject to regulatory approval, including that of the Monetary Authority of Singapore.

The move expands the reach of Circle’s expanding payments business. Today, Tazapay is handling over $25 billion worth of payments per year and has more than 60 banks and fintech organizations as partners.

It offers full-payout use in over 100 markets, providing businesses with a wide array of connectivity for moving money globally. Circle hopes to expand the reach of settlements built on these rails and to make cross-border transactions easier and more efficient.

The settlement of stablecoins is quickly transitioning into modern financial infrastructure, said Jeremy Allaire, Co-Founder and CEO of Circle. The integration of USDC and Tazapay’s banking infrastructure, the payout functions, and the institutional client base could propel the adoption of digital dollar payments on a global scale, he said.

Read More: Circle’s Arc Launches with 11 Finance Giants and 100+ Builders 

One of the most notable aspects of the deal is Tazapay’s existing stablecoin activity. Circle estimates that stablecoins now make up around 60% of Tazapay’s transaction volume.

That rate of adoption indicates that numerous enterprises are already adopting blockchain-fundamentals-based settlement to lessen costs and the delays involved in traditional correspondent banking.

Tazapay has established its presence in Asia-Pacific and other emerging markets, where the need for faster and lower-cost international payments persists.

This gives Circle access to payment corridors where trending stablecoins are increasingly being utilized for trade settlements, supplier payments, treasury operations, and business-to-business payments.

Irfan Ganchi, Senior Vice President of Payments at Circle, said the acquisition will enhance the company’s power to initiate and complete payments around the world, near-instantly, and 24/7. He noted that Tazapay’s infrastructure is complementary to Circle’s network and extends its reach to areas where stablecoin payments are prevalent.

The deal signifies a wider change in the stablecoin landscape. At first, stablecoins were used to facilitate trading in the crypto market, but firms like Circle are seeding stablecoins as payment infrastructure for global trade.

One of blockchain’s biggest opportunities is cross-border payments. Older fund transfers across the border have other intermediaries, fewer banking hours, and settlement delays. Stablecoins are a way to move value around the clock and settle much quicker.

Read More: Circle Wins OCC Approval for Nationwide USDC Reserve Trust Bank

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