Singapore-based company Tazapay has successfully completed its Series B financing round with key participation from investors like Ripple and Circle. This funding will focus on enhancing global licensing and stablecoin settlement systems.
Expanding Global Reach
Tazapay plans to improve its global licensing and expand stablecoin settlements. The funding will enable the company to bridge fiat and digital currencies more effectively, enhancing payment solutions across both emerging and developed markets. Tazapay aims to apply for licenses across the UAE, US, Hong Kong, Australia, and Singapore, processing over $10 billion annually, indicating robust growth and operational breakeven status.
Strategic Partnerships and Plans
By partnering with Ripple and Circle, Tazapay aims to leverage stablecoin interoperability for faster and more secure transactions, especially in underbanked regions. These alliances could significantly influence the dynamics of global payment systems, potentially paving the way for further stablecoin adoption. Such integrations might drive stablecoin utility in traditional financial contexts.
Comment from Tazapay Co-founder
Rahul Shinghal, Co-founder & CEO of Tazapay, expressed, "We’re entering the next chapter of our journey, one where modern payment technologies, regulatory compliance, and partnerships with global leaders will enable the future of cross-border commerce."
The funding from Ripple and Circle highlights Tazapay's potential in cross-border transactions, blending modern technology and strategic alliances to enhance payment solutions.
