Cross-border payments platform Tazapay has closed its Series B funding round with support from Ripple and Circle. The investments are aimed at developing payment infrastructure for stablecoins and expanding licensing.
Support from Major Investors
Tazapay secured backing from prominent investors like Ripple and Circle Ventures during its Series B funding round. This highlights confidence in Tazapay's market position and its role in bridging traditional finance with blockchain technology.
Developing Settlement Infrastructure
Tazapay aims to streamline transactions between fiat currencies and stablecoins. The support from Ripple and Circle is expected to enhance and expand the company's payment infrastructure, particularly in markets with growing demand for digital payments.
Expanding Licensing
With the new capital in place, Tazapay is ramping up its licensing strategy. In addition to existing approvals in Singapore, Canada, and the EU, the company plans to pursue licenses in the U.S., UAE, Hong Kong, and Australia, as well as apply for a Digital Payment Token license in Singapore.
The investments and strategic partnerships allow Tazapay to strengthen its position in the market for international payments and successfully navigate increasing competition in the digital assets sector.
