India, Sept. 8 -- Existing backer and US-based crypto platform Circle Internet Group has signed a definitive agreement to acquire Peak XV Partners-backed B2B cross-border payments startup Tazapay.

While the two parties did not disclose the size of the deal, CoinGape reported that the transaction is an all-stock deal valued at nearly $400 Mn. The deal is expected to close in 2027, subject to customary closing conditions and regulatory approvals.

The acquisition will accelerate Circle's mission to build the infrastructure layer for global digital finance, the US-based company said in a statement.

"Combining USDC with Tazapay's world-class banking relationships, local payout rails, and institutional customer base will accelerate worldwide...