Circle's $400M Tazapay Deal Targets Local Rails for Stablecoins in Emerging Markets
USDC issuer Circle plans to buy Singapore-based cross-border payments firm Tazapay, gaining local payment rails and regulatory reach across emerging markets.
AfroEuropa Newsroom
AfroEuropa desk
Circle, the issuer of the USDC stablecoin, has announced a planned $400 million acquisition of Tazapay, a Singapore-based cross-border payments company. According to BitKE, the deal would give Circle access to local payment rails, banking relationships and regulatory infrastructure that would otherwise take years to develop on its own.
Tazapay operates in more than 100 markets and links payment companies and financial institutions to over 60 banking and fintech partners, BitKE reported. The firm processes more than $25 billion in annualized payment volume, with roughly 60% of its transactions already involving stablecoins.
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