Circle announced the acquisition of Tazapay, a Singapore-based B2B cross-border payments company, on September 8, 2026. Analysis of on-chain data reveals that Tazapay already routes over $500M monthly in USDC through Circle's redemption process, representing approximately one-third of its $25B annual payout volume, making this a vertical integration of an existing stablecoin flow rather than a speculative future option.