Circle to acquire cross-border payments firm Tazapay

Circle Internet Group, the US issuer of the USDC stablecoin, has signed a definitive agreement to acquire Tazapay, a Singapore-based B2B cross-border payments company. Inc42 reported the deal on 8 September.

Neither party disclosed the size. CoinGape reported it as an all-stock transaction valued at nearly $400 million, and the attribution matters here: that number is a report, not a disclosure. Closing is expected in 2027, subject to customary closing conditions and regulatory approvals.

Tazapay was founded in 2020 and sells cross-border payments infrastructure to enterprises. It offers a single API through which a business can collect money, hold it in multiple currencies, convert it and pay suppliers globally. The company claims over $25 billion in annualised payment volume, more than 60 banking and fintech partners, and local payout rails in over 100 markets. It also claims that about 60% of its transaction volume already involves stablecoins.

Jeremy Allaire, Circle’s cofounder, said in a statement that combining USDC with Tazapay’s banking relationships, local payout rails and institutional customer base will accelerate worldwide USDC adoption.

The timing is the unusual part. The acquisition comes five months after Tazapay closed a $36 million Series B that saw participation from Circle itself, Peak XV Partners, GMO Venture Partners and January Capital. Circle is buying a company it helped fund five months earlier. The deal also gives Peak XV an exit; it first invested in 2023.

The India connection has to be stated as ours, not the source’s. Tazapay is Singaporean and Inc42 reports no India-specific numbers, no India revenue and no India customer count. What we would add is this. The layer Tazapay sits in is the layer an Indian brand selling into the US, the Gulf or Europe actually depends on. Collecting in the buyer’s currency, holding it, converting it and paying overseas suppliers is the plumbing behind every export order, and most Indian sellers reach it through a provider rather than a bank. When that plumbing consolidates into a stablecoin issuer, the set of counterparties an exporter transacts through gets shorter, and pricing, settlement timing and compliance posture start moving to a different set of incentives. If cross-border collections are on your roadmap, this is a name change worth tracking rather than a headline to skip.