Circle announced the acquisition of Tazapay on Tuesday, Sept. 8, with the deal expected to close next year. The move aims to leverage Tazapay’s existing banking relationships, local payout rails, and institutional customer base to boost the adoption of Circle’s USDC stablecoin for cross-border commerce.
Tazapay currently processes an annualized payment volume exceeding $25 billion. The company maintains partnerships with more than 60 banking and FinTech entities and provides local payout infrastructure across over 100 markets. Approximately 60% of its current transaction volume already involves stablecoins.
Circle previously invested in Tazapay during the company’s Series B funding round last year. According to Circle, the integration will enhance its ability to originate and terminate global payments on a 24/7 basis, positioning USDC as a standard rail for international business transactions.
Tazapay CEO Rahul Shinghal noted that the partnership combines his firm's payment infrastructure with Circle’s regulatory standing and dollar-denominated stablecoin network. This collaboration is intended to streamline cross-border transfers and reduce reliance on traditional, slower banking systems.
