US-based crypto co. Circle to acquire cross-border payments player Tazapay for $400-M

US-based crypto platform Circle Internet Group is to acquire Singapore-based cross-border payments infrastructure company Tazapay in an all-stock acquisition deal valued at about USD 400-M. The transaction provides an exit for Peak XV, which initially invested in the company in 2023.Founded in 2020 by Rahul Shinghal, Aayush Singhania, and Kanupriya Sharda, Tazapay provides a single API for enterprises to collect, hold, and convert funds across multiple currencies and pay suppliers globally.Tazapay intends to leverage the acquisition to integrate its banking relationships, local payout rails, and institutional customer base with Circle’s stablecoin infrastructure to broaden the worldwide adoption of USDC, a regulated digital stablecoin issued by Circle that maintains a 1:1 value peg to the USD.