Circle shares drop 9.23% after 7% rally; Tazapay deal set for 2027

  • Circle signed an agreement to acquire Singapore-based Tazapay on Sept. 8.
  • 9.23%: Circle shares fell to $88.43 on Tuesday after rising 7% Monday.
  • Tazapay has served as a Circle Payments Network design partner since 2025.

Circle Internet Group shares fell 9.23% to $88.43 on Tuesday as investors took profits after a 7% gain on Monday. Crypto-linked stocks advanced Monday after Senate Republicans released a revised Clarity Act draft ahead of a planned procedural vote on Tuesday. The changes addressed Democrats' ethics and banking-industry concerns and could improve the bill's passage prospects, Benzinga Pro reported. Circle signed a definitive agreement on Sept. 8 to acquire Singapore-based cross-border payments platform Tazapay, with closing expected in 2027 subject to customary conditions and approval from the Monetary Authority of Singapore (Singapore's financial regulator). Tazapay processes more than $25 billion in annualized payment volume, has over 60 banking and fintech partners, offers payout access in more than 100 markets, and handles about 60% of its volume through stablecoins (crypto tokens designed to maintain stable value). Circle aims to use the deal to expand USDC stablecoin adoption across Asia-Pacific and emerging markets. Tazapay has been a design partner for the Circle Payments Network since 2025. Circle reported $1.73 billion in cash and cash equivalents as of June 30. Keefe, Bruyette & Woods initiated coverage on Sept. 8 with a Market Perform rating and a $105 price forecast. Technically, CRCL remained above its 20-day simple moving average, or SMA (average closing price over 20 days), of $89.70 and its 50-day SMA of $75.06, while the 50-day SMA stayed below the 200-day SMA of $85.66, leaving June's death cross in place.

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Circle shares drop 9.23% after 7% rally; Tazapay deal set for 2027 - CoinPost Terminal