Circle to acquire Web3 platform Cybavo, bolstering its stablecoin adoption
Circle, a peer-to-peer financial services firm, has agreed to acquire Cybavo, a digital asset infrastructure platform. The deal will allow Circle to provide «infrastructure as a service» for firms wanting to develop on Web3.
Developers will be able to work on their products without having to worry about digital asset security, operations, or blockchain infrastructure management. According to the Friday press release, Circle and CYBAVO intend to further promote the adoption of USD Coin (USDC) and Web3 applications while integrating technology deeply into their core product suite.