Over the past week, Uniswap generated around $66.8 million in protocol fees, surpassing Circle and securing the second position among crypto protocols in this metric – only behind Tether. A possible growth factor has been the activity on Robinhood's new Ethereum L2: the increase in users and transactions has boosted demand for on-chain trading, benefiting Uniswap.
Meanwhile, Circle announced the acquisition of the Singapore payment platform Tazapay for $400 million in a stock deal. The transaction is expected to close in 2027, pending regulatory approval. Tazapay processes over $25 billion in annual payment volume, collaborates with more than 60 banking and fintech partners, and has local payout channels in over 100 countries. Approximately 60% of the platform's transaction volume is already related to stablecoins.
Circle's Senior Vice President of Payments, Irfan Ganchi, noted: "Together with the existing Circle network, Tazapay expands our coverage for moving funds to any locations where stablecoins are accepted." Co-founder and CEO of Circle, Jeremy Allaire, added: "We are excited to welcome the team into the company and work together to accelerate Circle's mission."
Tazapay has been a design partner of the Circle Payments Network since 2025, and Circle Ventures has invested in it. This acquisition strengthens Circle's position in cross-border payments and expands its infrastructure for moving USDC.