Circle to Acquire Singapore's Tazapay for $400 Million in Stock – Its Largest Deal Since Poloniex

Circle has agreed to acquire Tazapay, a Singapore-based cross-border payments company, in an all-stock deal valued at $400 million, according to a filing with the US Securities and Exchange Commission. The number of Circle shares issued will be based on the company's volume-weighted average closing price over the 20 trading days before the deal closes, adjusted for Tazapay's debt, transaction expenses and cash on hand.

The acquisition is Circle's largest since it bought crypto exchange Poloniex in 2018, according to CoinDesk. It is expected to close in 2027, pending regulatory approvals including sign-off from the Monetary Authority of Singapore.

Tazapay operates a payment gateway spanning more than 173 countries, global collection accounts in over 35 currencies and payout capability in more than 80 markets, built on relationships with over 60 banking and fintech partners. The company serves more than 1,000 businesses across 30 countries and holds payment licenses in Singapore, Canada, Australia and the United States, with applications pending in the European Union, Hong Kong and the United Arab Emirates. It has doubled revenue in each of the past three years and closed a Series B extension round led by Circle Ventures in March 2026. Tazapay and Circle have collaborated on Circle's Payments Network since 2025.

Circle said Tazapay processes more than $25 billion in annualized payment volume, with over 60% of that volume already moving through stablecoins. "Combining USDC with Tazapay's world-class banking relationships and institutional customer base will accelerate worldwide USDC adoption," said Circle chief executive Jeremy Allaire. Tazapay co-founder and chief executive Rahul Shinghal said the company set out six years ago "to fix something that should not still be broken: moving money across a border," adding that "Circle has the dollar infrastructure in USDC and regulatory standing to take what we've built further than we could alone."

Circle said the deal gives it regulated banking connections across more than 100 markets without having to build country-by-country payment networks itself, and that it does not expect any disruption to Tazapay's existing customers, APIs or pricing once the acquisition closes.