Sidley Austin has advised Circle Internet Group on its proposed USD400 million acquisition of Singapore-based cross-border payments platform Tazapay.
The transaction was agreed through a definitive agreement and intended to advance Circle Internet Group’s efforts to build the infrastructure layer for global digital finance, a joint company statement said.
Tazapay adds more than USD25 billion in annualised payment volume, over 60 banking and fintech partners, and local payout rails spanning more than 100 markets to Circle’s payments infrastructure. Stablecoins already account for around 60% of Tazapay’s transaction volume.
Partners Timothy FitzSimons, Jessica Day and Leigh Rorick led the Sidley Austin team.
Circle Internet Group is a global financial technology company that develops infrastructure for digital currencies, blockchain applications and stablecoins. It also issues USDC, a digital stablecoin tied to the value of the US dollar.
The acquisition is expected to close in 2027, subject to customary closing conditions and regulatory approvals, including clearance from the Monetary Authority of Singapore.
