OpenAI · Sam Altman · Circle · Tether · Stripe · CoinDesk
Circle's $400 million Tazapay agreement picks up emerging market links that take ‘years to build’
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★ Tier-1 Source
Circle's reported $400 million acquisition of Singapore-based Tazapay is shaping up to be an emerging-market play, giving the USDC issuer local payment rails that can take years to build.
Key facts
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
- Stablecoins, with more than $300 billion in circulation, are becoming a bigger part of global money movement as governments put regulatory frameworks in place
- Circle's reported $400 million acquisition of Singapore-based Tazapay is shaping up to be an emerging-market play, giving the USDC issuer local payment rails that can take years to build
- Open USD, an initiative led by Stripe with more than 100 participants including Visa, Mastercard and Coinbase, is also pushing into stablecoin payments
Summary
Circle's $400 million acquisition of Tazapay brings payment rails and banking relationships that would otherwise take “years to build,” Circle SVP of Payments Irfan Ganchi told CoinDesk. The deal would bring the “last-mile operator” into Circle's payments business and could help drive volume through Circle Payments Network, Clear Street's Owen Lau told CoinDesk. Tazapay's reach across more than 100 markets strengthens Circle's emerging-market push, where stablecoins' “next battleground” is taking shape, said Martins Benkitis, CEO of global liquidity provider Gravity Team. “This is the latest signal that stablecoins' next battleground is in emerging markets,” said Martins Benkitis, co-founder and CEO of Gravity Team, a global liquidity provider focused on emerging-market currencies and stablecoins.