Circle to Acquire Taiwan’s Web3 Infrastructure Platform Cybavo

Circle, a Stablecoin company and fintech company has announced that they have signed a definitive deal to acquire Cybavo (a crypto infrastructure platform) based in Taiwan.

Circle will continue investing in, developing, and operating the Taiwan-based company’s products and services, as well as adding them to the new product pillar.

Circle will be collaborating with Cubavo to increase its technology capabilities, as well as add advanced security, workflows and protocol support to the Circle Account. API capabilities are also available to meet customer demand.

The acquisition will provide a wider range of developer and enterprise services for those using the stablecoin, as well as Web3 infrastructure.

Cybavo, which was established in 2018, secured $4 million in seed funding last year. Following the development, the company’s co-founder and chief executive, Paul Fan, stated,

“Circle and CYBAVO share similar operating principles and values and we are aligned in the belief that the market for Web3 apps will ‘cross the chasm’ over the next few years, expanding into major consumer and enterprise-scale applications. Today’s news and the future of what we build with Circle will bring the power of the global crypto economy to everyone everywhere.

To further accelerate USDC’s expansion, Circle recently announced support for Polygon USDC on its accounts and APIs. Users will be able to benefit from more cost-effective, faster transactions.

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