Circle places $400M Tazapay bet after Uniswap takes the lead

Uniswap [UNI] has overtaken Circle [CRCL] to turn into the second-highest fee-generating crypto protocol. The timing couldn’t have been extra peculiar although, with Circle pushing into funds by its Tazapay purchase.

Right here’s the rundown!

Uniswap overtakes Circle!

Uniswap generated about $66.8 million in protocol charges over the previous week. That improvement pushed the platform forward of Circle.

It’s now additionally the second-highest fee-generating crypto protocol after Tether [USDT].

A contributor to this progress would possibly simply be Robinhood’s new Ethereum L2. Extra customers and transactions on the community have elevated demand for on-chain buying and selling, one thing that has labored in Uniswap’s favour.

Circle bets greater on USDC Funds with Tazapay acquisition

Whereas Uniswap has been gaining floor, Circle could be enjoying a distinct recreation although.

The stablecoin behemoth will soon buy Singapore-based funds platform Tazapay. The deal is reportedly price about $400 million, all-stock. The transaction is anticipated to shut in 2027, pending regulatory approvals.

Irfan Ganchi, Senior Vice President of Funds at Circle, stated,

Mixed with Circle’s current community, Tazapay extends our protection to maneuver cash anyplace stablecoin funds are being adopted globally.

Tazapay already handles greater than $25 billion in annualised fee quantity. In addition they work with over 60 banking and fintech companions. Its native payout community reaches greater than 100 markets. This steered that Circle would get a a lot wider base for transferring USDC throughout borders.

Accordig to Co-Founder and CEO Jeremy Allaire,

We’re excited to deliver the crew in-house and work collectively in direction of accelerating Circle’s mission.

Notably, stablecoins already make up round 60% of Tazapay’s transaction quantity.

AMBCrypto beforehand reported that Circle’s USYC was additionally in an in depth race with BlackRock’s BUIDL within the tokenized Treasury market. The hole between the 2 was small, so cash influx or outflow can shortly change their positions.

Circle has been linked to the corporate for a while. It beforehand invested in Tazapay by Circle Ventures, and Tazapay has additionally been a design associate for Circle Funds Community since 2025.

Last Abstract

• Uniswap generated about $66.8M in weekly protocol charges, overtaking Circle.
• The latter is increasing USDC funds with its $400M Tazapay acquisition.