Ripple, Circle back Tazapay to expand cross-border payments

The cross -border payment company based in Singapore, Tazapay, has obtained new funding from Ripple and Circle Ventures, positioning itself as a key deck between traditional financial transactions and transactions powered by the stables.

Tazapay announcement On August 27, he closed his financing tour of the B series with the participation of Peak XV Partners, Ripple (US), Circle Ventures, Norinchukin Capital (Japan) and OGM Venturers (Japan).

Existing investors Janan Capital and Arc180 also joined La Ronde, while Peak XV Partners, formerly Sequoia Capital India and Southeast Asia, led funding. The company has not disclosed the amount collected.

Bridging Fiat and Stablecoins

The addition of Ripple and Circle, two of the most prominent players in the blockchain and stable Payments, highlights the growing role of Tazapay in the connection of Fiat systems with the infrastructure of digital assets. Circle, the transmitter of the USD part (USDC), and Ripple, the company behind the XRP (Xrp) LEDGER, should help Tazapay strengthen its Fiat tabote rails to assistance in emerging markets.

The company based in Singapore already deals with more than $ 10 billion in annualized payment volume and requires growth of 300% in annual sliding. It offers coverage on alternative payment methods, cards, virtual accounts, payments and stablecoin regulations.

Regulatory expansion

Tazapay, which already has licenses in Singapore, Canada and the EU, plans to speed up license efforts in the United States, the United Arab Emirates, Hong Kong and Australia with the help of its new funding. The company also plans to request a Singaporean license For digital payment tokens.

With the help of new alliances with OGM Ventureparters and Norinchukin Capital, the company, which has already reached the profitability threshold, plans to develop in markets like Japan.

Tazapay was founded in 2020 and has since acquired a reputation as a very reliable and regulated platform for the B2B markets, multinational companies and fintechs. With the support of Ripple and Circle, the company should play a major role in the integration of traditional banking payments and based on blockchain.