Crypto · updated 2h ago · 2 min read
Circle Agrees to Acquire Singapore’s Tazapay for About $400 Million in All-Stock Deal
Circle signs definitive agreement to acquire Tazapay in an all-stock deal valued at $400 million. Close expected in 2027, subject to customary closing conditions and MAS approval.
Whether economics are disclosed.
11 of 12 outlets skipped it: circle grants $25 million in post-closing Incentive RSUs to retain Tazapay employees.
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Same story, two versions
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Forkast News
“By utilizing its own equity as currency, Circle is effectively leveraging its post-IPO market valuation of roughly $25.9 billion”Read the original ↗
Benzinga
“Financial terms of the transaction were not disclosed.”
Translated from the original.
Read the original ↗Forkast adds valuation and consolidation logic; Benzinga downplays price disclosure.
Circle buys Tazapay
Circle has signed a definitive agreement to acquire Singapore-based cross-border payments infrastructure firm Tazapay for approximately $400 million in an all-stock deal, with the transaction expected to close in 2027 subject to regulatory approvals and customary closing conditions.
“Circle Internet Group has signed a definitive agreement to acquire Singapore-headquartered Tazapay for approximately $400 million”
Circle said the acquisition will add more than 60 banking and fintech partners and local payout capabilities across more than 100 markets, while Tazapay processes more than $25 billion in annualized payment volume.
The deal is positioned as stablecoin infrastructure expansion, with Circle saying about 60% of Tazapay’s transaction volume already involves stablecoins.
Circle also said the acquisition will strengthen its payments infrastructure across Asia-Pacific and emerging markets and aims to expand the use of its USDC stablecoin for cross-border transactions.
Who says what
Circle co-founder, CEO and Chairman Jeremy Allaire said, “Stablecoin settlement is becoming core infrastructure in the global economy,” and added that combining USDC with Tazapay’s banking relationships and local payout rails will “accelerate worldwide USDC adoption.”
Irfan Ganchi, Circle’s senior vice president of payments, connected the acquisition to global routing goals, saying, “This acquisition will increase Circle’s capability to originate and terminate payments globally, near-instant and 24/7.”
Tazapay CEO Rahul Shinghal framed the purchase as a way to reduce friction in cross-border payments, saying, “We built Tazapay to make payments faster, remove friction, and streamline dependency on banking rails that don’t operate at the speed of global commerce.”
Circle said Tazapay customers are not expected to see changes to their service, APIs, pricing or support when the transaction closes.
Regulatory and rollout
The acquisition requires approval from the Monetary Authority of Singapore, and Circle said the transaction is expected to close in 2027, with customary closing conditions also in place.
“Circle will pay in Class A common stock, with the purchase price subject to adjustments”
Circle said the purchase price is subject to adjustments for Tazapay’s debt, transaction expenses and cash, and that Circle will pay in Class A common stock according to a filing with the US Securities and Exchange Commission.
Circle also said it is granting $25 million in post-closing Incentive RSUs to Tazapay employees to retain the team through integration.
Until completion, Tazapay will continue operating as it does today, and Circle said contracts, virtual accounts, payout routes, settlement arrangements, integrations, account contacts, products and licences will remain unchanged for customers during the transition.