Circle acquires Tazapay for $400 million to expand payment infrastructure

Circle has announced the acquisition of Singapore-based cross-border payment platform Tazapay for approximately $400 million in stock. This move, the largest for the USDC issuer since its 2018 purchase of Poloniex, aims to secure last-mile payment infrastructure. Tazapay, which processes over $25 billion in annual volume, has been collaborating on the Circle Payments Network since 2025. The deal is expected to close by 2027, pending regulatory approval from the Monetary Authority of Singapore. This acquisition follows Mastercard's recent purchase of stablecoin infrastructure firm BVNK for up to $1.8 billion, highlighting a broader trend of payment giants building proprietary on-chain networks.