Circle Internet Group Inc. (NYSE:CRCL) stock was trading lower on Tuesday as investors engaged in profit-taking following a 7% rally on Monday. The broader crypto-linked stock sector experienced upward momentum on Monday after Senate Republicans released a revised draft of the Clarity Act ahead of a planned procedural vote on Tuesday. The updated bill addresses Democrats’ ethics and banking industry concerns, potentially increasing the likelihood of legislative passage, according to Benzinga Pro.

On Sept. 8, Keefe, Bruyette & Woods initiated coverage on Circle Internet Group with a Market Perform rating and announced a price forecast of $105.

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Strategic Cross-Border Acquisition

On Sept. 8, Circle announced that it had signed a definitive agreement to acquire the Singapore-based cross-border payments platform Tazapay. Financial terms were not disclosed.

The acquisition is expected to close in 2027, subject to customary conditions and regulatory approvals from the Monetary Authority of Singapore. Tazapay processes over $25 billion in annualized payment volume and will add more than 60 banking and fintech partners alongside payout access in over 100 markets. About 60% of Tazapay’s volume involves stablecoins.

"Stablecoin settlement is becoming core infrastructure in the global economy," Circle co-founder, Chairman and CEO Jeremy Allaire said.

Expansion of Global Payments Network

Tazapay has served as a design partner for the Circle Payments Network since 2025. Circle aims to leverage the acquisition to expand USDC stablecoin adoption across Asia-Pacific and emerging markets. Circle reported $1.73 billion in cash and cash equivalents as of June 30.

Technical Analysis

From a trend perspective, CRCL is still in a constructive zone: it’s trading above its 20-day SMA ($89.70) and well above its 50-day SMA ($75.06), which typically keeps the intermediate trend biased to the upside. At the same time, the longer-term backdrop is less clean because the 50-day SMA remains below the 200-day SMA ($85.66), keeping the "death cross" that formed in June in the background.

  • Key Resistance: $103.50
  • Key Support: $86

CRCL Stock Price Activity: Circle Internet Group shares were down 9.23% at $88.43 on Tuesday, according to Benzinga Pro data.

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