According to CoinMeta, Wu said that documents submitted by Circle to the US SEC show that the company signed an equity purchase agreement on September 4, intending to acquire all the outstanding shares of Singapore-based payment company Tazapay Pte. The total transaction value is approximately $400 million, to be paid in Circle A class common stocks. The specific number of shares issued will be determined based on the weighted average price of Circle stock trading volume over the 20 trading days prior to the completion of the transaction ( VWAP ). This transaction still requires regulatory approval and must meet other customary delivery conditions, and has not yet been completed.