Circle is acquiring Singapore-based cross-border payments infrastructure company Tazapay in a deal that could offer a glimpse into how the stablecoin industry expands globally and what that could mean for African fintech.
The deal, announced on September 8, values Tazapay at approximately $400 million, payable in Circle Class A shares. It is expected to close in 2027, subject to customary conditions and regulatory approvals.
Tazapay gives Circle relationships with more than 60 banking and fintech partners and local payout infrastructure across more than 100 markets. The company processes more than $25 billion in annualised payment volume, with stablecoins already accounting for roughly 60% of its transaction volume.
Those are capabilities that could take Circle years to build. The acquisition also follows a relationship that had already been developing between the two companies.
Tazapay has been a design partner for Circle Payments Network since 2025, while Circle Ventures participated in Tazapay’s Series B and led its $36 million extension in March 2026. Ripple, Coinbase Ventures and other investors also backed the round.
Read more: Why Tether, Circle and Ripple are betting on African fintechs
Stablecoin issuers increasingly need local payment infrastructure, banking relationships, licences, compliance capabilities and access to businesses if they want to take blockchain-based settlement mainstream.
Africa could become an important part of this trend. The continent’s fintech leaders have spent years building local payment rails, regulatory relationships, merchant networks, FX capabilities and access to fragmented markets.
Flutterwave and LemFi offer valuable examples. Ripple invested in Flutterwave and announced plans to integrate its RLUSD stablecoin, Ripple Payments and the XRP Ledger into Flutterwave’s infrastructure. Meanwhile, LemFi received a strategic investment that will see USDT used as a settlement layer on the platform.
Circle’s Tazapay acquisition shows an exit pathway for African fintechs and their investors at a time when investors are increasingly seeking exit opportunities.
As stablecoin companies compete to capture cross-border payments, acquiring fintechs with established corridors may become more attractive than building those networks from the ground up.
African companies such as Flutterwave and LemFi, with their cross-border reach and local-market expertise, could therefore become strategically valuable to global payment and stablecoin players.
Last updated: September 8, 2026
