Circle stock slips despite new acquisition news
Tue, September 8, 2026 at 10:22 PM GMT+3 1 min read
Circle Internet Group, Inc. (NYSE: CRCL) is a popular crypto company best known for its USDC stablecoin.
As per the onchain analytics platform DeFiLlama, USDC currently has a market cap of $74.36 billion and accounts for more than 24% of the total stablecoin market.
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On Sep. 8, Circle announced it has signed a definitive agreement to acquire Tazapay, a Singapore-headquartered B2B cross-border payments infrastructure company. The deal is expected to close in 2027.
"Tazapay has been a design partner for Circle Payments Network since 2025 and we share a deep alignment," Circle co-founder and CEO Jeremy Allaire said. "We are excited to bring the team in-house and work together towards accelerating Circle's mission."
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As per the statement, Tazapay has over $25 billion of annualized payment volume, more than 60 banking and fintech partners, and local payout rails covering over 100 markets. Approximately 60% of Tazapay's transaction volume already includes stablecoins.
Circle's senior vice president of payments, Irfan Ganchi, said, "This acquisition will increase Circle's capability to originate and terminate payments globally, near-instant and 24/7, which is a meaningful step toward making USDC the default payment rail for cross-border commerce."
Despite the latest acquisition news, the Circle stock slipped more than 3% today. At the time of writing, the stock was exchanging hands at $98.81.
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This story was originally published by TheStreet on Sep 8, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
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