Circle Internet Group, the issuer of the USDC stablecoin, signed a definitive agreement to acquire Tazapay, a Singapore-based company that provides cross-border payments infrastructure to payment service providers and financial institutions. Circle announced the deal on September 8, 2026.
The press release did not state a price, but Circle's filing with the US Securities and Exchange Commission did. The share purchase agreement, signed on September 4, values the purchase at $400 million, paid entirely in Circle Class A common stock and adjusted for Tazapay's debt, transaction expenses and cash.
The deal is expected to close in 2027, subject to customary conditions and regulatory approvals, including from the Monetary Authority of Singapore. Circle said it would bring Tazapay's team in-house and that Tazapay customers should see no change to their service, APIs, pricing or support.
What Tazapay built
Tazapay was founded in 2020 by Rahul Shinghal, Aayush Singhania and Kanupriya Sharda, according to Inc42. Shinghal is its chief executive. The company gives businesses a single API to collect money, hold balances in several currencies, convert funds and pay suppliers around the world.
According to Circle, Tazapay processes more than $25 billion in annualised payment volume as of July 31, 2026, works with more than 60 banking and fintech partners and has local payout rails in more than 100 markets. About 60% of its transaction volume already involves stablecoins. Those stablecoin services run through Tazapay Canada Corp., which is registered as a money services business with Canada's financial intelligence unit, FINTRAC.
Tazapay has been a design partner for Circle Payments Network, Circle's network for global money movement, since 2025. Allaire said the two companies shared a deep alignment.
“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 has the dollar infrastructure in USDC and the regulatory standing to take what we've built further than we could alone. That's what makes this the right move and what we're focused on delivering together.”
Why Circle is buying
Circle's main business is issuing USDC, a stablecoin pegged to the US dollar. It is trying to turn the token into a common way to settle payments between businesses, and Tazapay gives it banking relationships, payout routes and institutional customers in Asia-Pacific and other emerging markets.
Chief executive Jeremy Allaire said stablecoin settlement was becoming core infrastructure for the global economy and that combining USDC with Tazapay's banking relationships, payout rails and customer base would speed up adoption of USDC around the world.
Irfan Ganchi, Circle's senior vice president of payments, said the deal would let Circle start and complete payments globally, almost instantly and around the clock, and described it as a step toward making USDC the default rail for cross-border commerce.
How the stock deal works
Under the agreement, a Circle subsidiary called Taurus Acquisition will buy every Tazapay share not already owned by Circle or its affiliates. The number of Circle shares issued will be set by dividing the $400 million figure, after adjustments, by Circle's volume-weighted average closing price over the 20 trading days before closing, so the final share count depends on Circle's stock price at that time.
Circle will hold back 5% of the consideration as security for indemnification claims, releasing it in three instalments over 18 months after closing, plus a further 3% for certain additional indemnification obligations. Shares not used to cover claims will be released to the sellers.
The founders and the funding
Circle was already a Tazapay shareholder. Earlier in 2026 Tazapay closed a Series B extension led by Circle Ventures that brought its total Series B funding to $36 million. CMT Digital and Coinbase Ventures joined as new investors alongside Peak XV Partners, GMO Venture Partners and January Capital, while Ripple, Norinchukin Capital, ARC180 and RTP Global were existing backers.
Peak XV first invested in 2023, according to Inc42, and the sale gives it an exit. Tazapay did not disclose its headcount.
Shinghal said Circle's dollar infrastructure and regulatory standing would let Tazapay take what it had built further than it could on its own.
