CRCL & HOOD = M&A

Visa says stablecoin-linked card settlement has topped a $20 billion annualized run rate, up more than 15x from a year ago, with over 160 programs now live globally. These are essentially Visa cards from crypto and fintech apps that let customers spend stablecoin balances at ordinary merchants, with the conversion and settlement handled behind the scenes. Payment volume across those programs is up nearly 200% year over year, and Visa is now giving onchain lenders more settlement data so issuers can finance the daily cash needs that come with running them. Read more →

Circle (CRCL) is set to acquire Singapore-based B2B cross-border payments company, Tazapay for $400 million in stock. Tazapay currently processes more than $25 billion in annualised payment volume, has 60-plus banking and fintech partners, and has local payout rails across over 100 markets. Read more →

Robinhood (HOOD) has agreed to add Crypto*com’s yes-or-no contracts to its trading platform as well as take minority stakes in both the company’s exchange and its prediction-markets business. As we reported in July, Crypto*com had spun out it’s prediction markets business, OG, from the parent company. Crypto*com and OG were valued at $15 billion and $5 billion, respectively, after Citadel Securities bought a stake in each in July. The company is still aiming to IPO ASAP. Read more →

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