Ripple, Circle Back Cross-Border Payments Firm Tazapay in Series B Round

Blockchain payment leaders Ripple and Circle have invested in Singapore-based cross-border payments platform Tazapay through its Series B funding round, as cryptocurrency companies increasingly target traditional payment infrastructure.

Circle Ventures and Ripple joined Peak XV Partners, Norinchukin Capital, and GMO VenturePartners in backing the payments firm, which processes over $10 billion in annualized transaction volume across 70 markets, according to an announcement on Tuesday.

The investment signals growing crypto industry interest in building bridges between digital assets and traditional banking systems.

Tazapay operates payment infrastructure for B2B marketplaces and platforms, offering local collection and payout capabilities that connect traditional payment methods with emerging stablecoin settlement options. The company said it reached operational breakeven while growing 300% year-over-year.

"The future of global payments depends on the seamless convergence of traditional and digital finance," said Eric Jeck, senior vice president of corporate and business development at Ripple. "Tazapay is a clear leader in building these essential, compliant last-mile connections, especially in emerging markets."

The investments reflect strategic positioning by Ripple and Circle to expand their payment networks through partnerships with regulated financial infrastructure providers. Both companies have been building enterprise payment solutions that require extensive local banking relationships and regulatory compliance.

Tazapay's platform supports alternative payment methods, virtual bank accounts, and what it describes as "institutional-grade security and compliance across multiple jurisdictions." The company specifically highlights its role as a "fiat bridge for stablecoin settlements in emerging markets."

The startup holds licenses in Singapore, Canada, and the European Union, with applications pending for regulatory approval in the UAE, United States, Hong Kong, and Australia. It is also pursuing a Digital Payment Token license in Singapore.

Rahul Shinghal, Tazapay's co-founder and CEO, positioned the funding as supporting the company's vision to become a "global payment collection and payout infrastructure built on modern rails." He emphasized stablecoin bridge capabilities as a key use case for the platform.

Japanese investors GMO VenturePartners and Norinchukin Capital will support Tazapay's expansion into Japan, enabling local payment methods for global customers and establishing dedicated sales operations for Japanese enterprises seeking international scaling.

The crypto industry investments come as stablecoin adoption accelerates in cross-border commerce, with businesses seeking alternatives to traditional correspondent banking networks that can involve multiple intermediaries and extended settlement times.

Tazapay plans to invest further in real-time payment systems, automated clearing house networks, and stablecoin infrastructure as part of what it characterizes as "future-ready payment experience for global businesses."

The Series B round follows earlier backing from January Capital and ARC180, with Peak XV Partners leading the latest investment. The funding will support Tazapay's licensing expansion and technology development as it builds connections between traditional banking and digital asset settlement systems.

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