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About Tazapay
Tazapay is a Singapore-based cross-border payment platform that enables businesses to collect and pay internationally without setting up local entities. Its core service provides virtual accounts and local payment method integration across 100+ countries, supporting 35+ currencies for balance holding and 70+ currencies for payouts. The platform also supports stablecoin-to-fiat conversion for settlement.
Its main value proposition is consolidating fragmented payment infrastructure into a single API, reducing the operational burden of managing multiple providers. The platform handles compliance requirements including KYC/AML screening and sanctions checks, and holds licenses such as MAS in Singapore and FINTRAC in Canada. For India-bound payments, it supports FIRC and BOE documentation.
Typical pain points addressed include the high cost and long timeline of registering foreign subsidiaries and opening bank accounts, low approval rates for cross-border card transactions, hidden FX spreads, and complex regulatory compliance across jurisdictions. Tazapay mitigates these through local payment rails, transparent FX pricing, and embedded compliance tools.
In the past six months (February to August 2026), Tazapay announced a partnership with iPiD to integrate payee verification, enhancing payment security by validating beneficiary identity before transfer. It also expanded SWIFT payout corridors to include currencies such as AMD, KES, IDR, and AZN, with additional documentation requirements for large transactions. No major negative events were reported during this period.
Tazapay, founded in 2020 by Rahul Shinghal, Kanupriya Sharda and Aayush Singhania, is a Singapore-headquartered regulated cross-border payment infrastructure company. Its early focus was building a compliant last-mile settlement layer connecting stablecoin corridors with local fiat systems, replacing traditional correspondent banking in emerging markets across Asia, Latin America and the Middle East.
A significant milestone came in August 2025 when Tazapay closed the first tranche of its Series B round, led by Peak XV Partners with participation from Ripple and Circle Ventures. In March 2026, the company completed a Series B extension led by Circle Ventures, bringing the total round to $36 million, with new investors including Coinbase Ventures and CMT Digital. This funding supported license expansion and go-to-market acceleration across high-growth corridors.
The most transformative event occurred in September 2026, when Circle Internet Group signed a definitive agreement to acquire Tazapay, with closing expected in 2027 subject to regulatory approvals. At that time, Tazapay was processing over $25 billion in annualized payment volume, serving 1,000+ businesses across 70 markets, with roughly 60% of transactions already involving stablecoins. The acquisition brings 60+ banking and fintech partners and payout rails in 100+ markets into Circle's ecosystem, directly accelerating USDC distribution at scale.
Tazapay holds licenses or registrations in Singapore, Canada, Australia and the United States, with applications pending in the UAE, EU and Hong Kong. The company's revenue doubled for three consecutive years, reflecting strong demand for modern, compliant payment infrastructure in emerging markets.
Over the past six months, Tazapay closed a Series B extension led by Circle Ventures, bringing total funding to $36M, with Coinbase Ventures and CMT Digital joining. Circle signed a definitive agreement to acquire Tazapay, expected to close in 2027 subject to regulatory approvals including MAS. Tazapay also went live on Borderless.xyz, expanding local payout/collection corridors across APAC and LATAM, and partnered with ClearBank to access UK/EU clearing rails for real-time settlement. Official priorities: broaden licensing coverage (UAE, EU, HK), accelerate go-to-market in Asia, LATAM, Middle East and Americas, build agentic payment infrastructure, and post-acquisition expand routes and coverage while continuing with the same brand and team.
Rahul Shinghal (Co-founder & CEO): Former MD of PayPal Southeast Asia and Head of APAC at Stripe, with over 20 years in payments and fintech.
Saroj Mishra (Co-founder): 23 years in investment banking, treasury, and trade finance; ex-Standard Chartered and CitiBank; co-founder of Bayfront Capital Advisors.
Arul Kumaravel (Co-founder & CTO): Ex-VP of Engineering at Circle, Head of Engineering for Amazon's mobile platform, and 15 years at Microsoft in product and engineering roles.