Tazapay’s stablecoin play pays off

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• ​​Inside Tazapay’s stablecoin push
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• Grab bets $60m on Vay’s remote-driven EV tech

Hello reader,

For the last few years, whenever you heard “crypto” and “gains” in the same sentence, it usually involved NFTs or high-stakes token bets. I also made some crypto bets (not high-stakes by any means) in 2021, which I sat on for over three years before my portfolio showed some green.

But Singapore-based Tazapay is generating top-line growth from a more “low-stakes” side of crypto: stablecoins.

The cross-border payments company’s financial statement shows that it doubled its revenue to US$12.4 million in the financial year ended March 2025. This comes off the back of increasing adoption of stablecoins in the payment space, its CEO Rahul Shinghal told me in an interview for today’s Top Story.

Tazapay is using stablecoins to help businesses in over 80 markets settle B2B payments instantly, instead of waiting days for traditional bank wires to clear. Shinghal says the company’s stablecoin bet has helped it double its customer base year on year to 3,000 as of October.

In a previous interview, Shinghal was confident that stablecoins would help drive a 3x increase in revenue for Tazapay this calendar year. Now, he says the company is on track to hit this goal.

Stablecoins aren’t the only hot thing in the fintech space right now. Many digital banks are looking at AI to power up their mobile apps.

But, as the executives behind Malaysia’s neobanks have found out, it may take some time before users adopt these AI-powered features. You can read more in today’s Spotlight.

Miguel Cordon, journalist

Top Story

Tazapay eyes global push, targets net profit by 2029

(From left) Tazapay founding team members Aayush Singhania, Kanupriya Sharda, and Rahul Shinghal / Photo credit: Tazapay

Shinghal says that while there are other fintech firms that also offer stablecoin settlements, Tazapay is differentiating itself by becoming an “emerging markets anchor.”

Spotlight

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