On September 8, Circle agreed to buy Tazapay, a Singapore B2B cross-border payments company, for $400M in Circle stock, closing in 2027. Investors shrugged; CRCL fell 5.75% to $96.18 on the day. Why it matters: Every write-up says Circle bought the last mile. Wrong frame. Circle keeps 39 cents of every dollar USDC earns in interest and gives the rest to distributors, mostly Coinbase. It will keep every cent Tazapay charges in fees.
Circle has agreed to pay $400M for a business whose revenue it can keep.
What's happening: On September 8, Circle agreed to buy Tazapay, a Singapore company that moves money across borders for businesses, for $400M in Circle stock. The deal is expected to close in 2027. Investors were unimpressed. CRCL fell 5.75% to $96.18 that day.
