Circle to acquire APAC payments firm Tazapay; terms undisclosed

The acquisition will accelerate Circle's mission to build the infrastructure layer for global digital finance. Tazapay brings over $25 billion of annualized payment volume, 60+ banking and fintech partners, local payout rails covering over 100 markets, adding scale to Circle’s payments infrastructure1. Approximately 60% of Tazapay's transaction volume already includes stablecoins2. "Tazapay brings deep payment infrastructure across APAC and emerging markets, where we see increasing demand for USDC-denominated transactions. This acquisition will increase Circle’s capability to originate and terminate payments globally, near-instant and 24/7, which is a meaningful step toward making USDC the default payment rail for cross-border commerce," said Irfan Ganchi, Senior Vice President of Payments at Circle. "Combined with Circle's existing network, Tazapay extends our coverage to move money anywhere stablecoin payments are being adopted globally." "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," said Rahul Shinghal, Co-Founder and CEO of Tazapay. Tazapay customers can expect no disruption to their service, APIs, pricing, or support.