- Uniswap overtakes Circle in weekly fees.
- Circle plans a $400M Tazapay acquisition to expand USDC payments.
Uniswap has surpassed Circle in weekly protocol fees as activity across the decentralized exchange continues to rise. At the same time, Circle is expanding its payments business with a planned $400 million acquisition of Tazapay.
The contrasting moves highlight two different areas of growth in the crypto market. Uniswap is benefiting from higher on-chain trading activity, while Circle is building a larger network for USDC payments.
Uniswap Overtakes Circle in Weekly Fees
Uniswap generated about $66.8 million in protocol fees over the past week. The figure pushed Uniswap into second place among crypto protocols by fee revenue, behind Tether.
The rise comes as activity on Ethereum-based networks continues to support demand for decentralized trading. Robinhood’s new Ethereum Layer 2 may also be contributing to the increase in transactions and trading activity.
Higher network usage can translate into more trading volume for Uniswap. This has helped the decentralized exchange move ahead of Circle in weekly fee generation.
Circle, however, appears focused on a broader payments strategy rather than competing directly on protocol fees.
Circle Targets Cross-Border Payments With Tazapay
Circle has agreed to acquire Singapore-based cross-border payments company Tazapay in an all-stock deal valued at around $400 million. The transaction is expected to close in 2027, pending regulatory approval.
The deal would expand Circle’s infrastructure for international USDC payments. Tazapay processes more than $25 billion in annualized payment volume and works with over 60 banking and fintech partners.
Its local payout network also reaches more than 100 markets, giving Circle access to a broader cross-border payments network.
Stablecoins already account for about 60% of Tazapay’s transaction volume. This gives Circle an established payments business with significant stablecoin activity as it expands USDC adoption across international markets.
Circle Senior Vice President of Payments Irfan Ganchi said Tazapay would extend the company’s coverage in markets where stablecoin payments are gaining adoption.
Circle CEO Jeremy Allaire also welcomed the Tazapay team as the company moves to expand its global payments infrastructure.
Circle and Tazapay Already Have Ties
The planned acquisition does not mark Circle’s first involvement with Tazapay. Circle Ventures previously invested in the company. Tazapay has also served as a design partner for the Circle Payments Network since 2025.
The existing relationship could help Circle integrate Tazapay’s infrastructure and payment connections into its broader network.
Circle is also competing in another growing area of crypto finance. Its USYC tokenized Treasury product remains in a close race with BlackRock’s BUIDL for market share in tokenized Treasuries.
For Circle, the Tazapay deal adds another route for expanding its stablecoin business beyond traditional crypto trading.
Meanwhile, Uniswap’s latest fee figures show that decentralized trading remains a major source of activity across the market. The two developments point to an industry expanding across both financial infrastructure and on-chain markets.
ALSO READ: IOTA Is Finally Becoming a Conventional Smart-Contract Chain
DISCLAIMER:
This article reflects the author’s views and is provided for informational purposes only. While we strive for accuracy, the publisher does not guarantee that all information is complete or current. Readers should verify important information and consult appropriate sources before making decisions based on this content.