Circle is acquiring Singapore-based payment platform Tazapay for $400 million to accelerate the adoption of USDC in emerging markets, according to CoinDesk, citing expert opinions.
Experts highlight that the key asset in this deal is Tazapay’s established payment infrastructure and local connections, which would take years to build from scratch.
Circle Acquires Infrastructure
Circle has agreed to acquire Tazapay in a deal valued at approximately $400 million. The transaction will be settled in Circle shares, with the acquisition expected to close in 2027 following regulatory approvals.
The Singaporean company specializes in cross-border B2B payments and operates in over 100 markets. Tazapay’s annual transaction volume exceeds $25 billion, with about 60% already involving stablecoins. The company also has over 60 banking and fintech partners.
For Circle, this acquisition means not only expanding the user base for USDC but also gaining ready-made channels for fund transfers within local financial systems.
The company is promoting its cross-border payment platform, Circle Payments Network (CPN), and its own L1 blockchain Arc, focused on stablecoin operations.
“After the acquisition, Circle will vertically integrate the last-mile delivery operator, which could boost CPN sales volumes,” explained Owen Lau, Managing Director at Clear Street.
“Years in the Making”
Access to local infrastructure is cited as the main rationale for the deal. According to Martin Benkitis, co-founder and CEO of crypto liquidity provider Gravity Team, emerging markets are becoming the next battleground for stablecoins.
He noted that through Tazapay, Circle gains payment rails and banking connections that would take years to establish independently.
“Stablecoin settlements are becoming key infrastructure for global trade, but for USDC to be useful wherever money moves, it must be linked to local currencies through local channels and banking relationships that take years to build,” confirmed Circle Vice President Irfan Ghanchi to CoinDesk.
Focus on Emerging Markets
Circle is steadily expanding its presence in payment infrastructure. The acquisition of Tazapay provides the company with access to Asian and other emerging markets, where cross-border payments remain fragmented and stablecoin use can reduce intermediaries.
“A significant portion of demand comes from the Asia-Pacific region, and Tazapay is based there—so yes, geography matters,” said Ghanchi.
Circle’s main competitor, Tether, has repeatedly emphasized its focus on serving unbanked clients in third-world countries.
The USDC issuer complies with U.S. regulations and has obtained a European license under MiCA. Tether launched a separate coin, USAT, for the U.S. market. In June, the company was forced to halt operations in the EU following regulatory changes, but analysts report this did not lead to a significant global outflow from USDT.
Earlier, Pablo Hernández de Cos, head of the Bank for International Settlements, stated that stablecoins do not yet appear to be a reliable means of payment on an economic scale. He believes that tokenized bank deposits should form the foundation of the digital financial system.
