Circle Internet Group, a leading US crypto platform and creator of the US dollar-pegged stablecoin USDC, has agreed to acquire Tazapay, an India-backed B2B cross-border payments startup supported by Peak XV Partners. This strategic deal aims to accelerate the use of USDC globally by integrating Tazapay’s extensive banking network and multinational payment capabilities.
- Circle acquires India-backed Tazapay in an all-stock deal valued near $400 million
- Tazapay processes $25 billion annually with 60% stablecoin usage in transactions
- Acquisition expected to boost global USDC stablecoin adoption and market reach
What happened
Circle Internet Group, a US-based crypto company known for developing the USDC stablecoin, has signed a definitive agreement to acquire Tazapay, a startup founded in 2020 with backing from Peak XV Partners and other investors. The transaction is reported to be an all-stock deal worth close to $400 million and is expected to close in 2027 after meeting standard closing and regulatory requirements.
Tazapay offers a payment infrastructure designed for enterprises engaging in cross-border transactions, supporting payments in multiple currencies with integration to local payout rails in over 100 countries. The startup, headquartered in Singapore but with significant Indian investor involvement, reportedly handles over $25 billion in annualized payment volume, with stablecoins accounting for around 60% of that volume.
Why it matters
This acquisition reflects Circle’s strategic intent to expand its global digital finance infrastructure by leveraging Tazapay’s existing banking partnerships and payment network. Integrating USDC with Tazapay’s platform could significantly enhance the adoption of stablecoins in B2B cross-border payment ecosystems, reducing friction and costs associated with international transactions.
Given Tazapay’s demonstrated traction in high-volume payments and its ability to process stablecoins at scale, the deal positions Circle to accelerate the mainstream use of blockchain-based payments in enterprise markets. This move also highlights growing investor confidence in fintech and blockchain startups from India and Southeast Asia as critical players in the global payments landscape.
What to watch next
Additionally, monitoring the broader implications for Peak XV Partners and other investors will be important, as the exit may influence future investment activity in fintech and blockchain startups focused on enterprise cross-border payments in India and the wider Southeast Asian region.