News Report
June 11, 2022

Circle to acquire Cybavo

Circle to acquire Cybavo

Crypto company Circle will acquire solutions provider CYBAVO for an undisclosed amount.

While incorporating technology extensively into their main product line, Circle and CYBAVO plan to increase the usage of USD Coin and Web3 applications even further. Circle, a peer-to-peer financial services company, has agreed to buy Cybavo, a platform for managing digital assets. Circle will be able to give “infrastructure as a service” to companies that wish to develop on Web3.

Circle also intends to develop and run CYBAVO’s products and services while incorporating them into Circle’s new product pillar. Cybavo is a Taiwanese start-up that was founded in 2018 and recently raised $4 million in a seed round. Cybavo’s research and development will be supported by Circle, as well as its goods and services.

“Circle and CYBAVO share similar operating principles and objectives,” stated Paul Fan, co-founder and CEO of Cybavo. “We are aligned in the idea that the market for Web3 apps will “cross the chasm” over the next few years, developing into large consumer and enterprise-scale applications.”

Circle’s function in the ecosystem, according to the company, has been to connect the old financial system with Web3 apps, adding: “We believe the future of financial services is a more open platform that easily integrates these two worlds, with more core applications and services built on crypto and blockchain technology,” said Fan.

Read related posts:

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

More articles
Gergő Kiss
Gergő Kiss
Hot Stories

Olas Is Turning the Web into a Network of Agents

by Victoria d'Este
May 06, 2025
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
MYX Finance Opens MYX Airdrop Claims To Reward Early Supporters
News Report Technology
MYX Finance Opens MYX Airdrop Claims To Reward Early Supporters
May 6, 2025
SWISS, Lufthansa Systems, And Camino Network Host Web3 Hackathon To Drive Innovation In Travel Industry
Business News Report Technology
SWISS, Lufthansa Systems, And Camino Network Host Web3 Hackathon To Drive Innovation In Travel Industry
May 6, 2025
Fraction AI Announces Mainnet Launch, Enabling Auto-Training For AI Agents
News Report Technology
Fraction AI Announces Mainnet Launch, Enabling Auto-Training For AI Agents
May 6, 2025
Gate.io Launchpool Sees Strong Growth In April, Launching 23 Projects And Delivering High Yields Via Mainstream Token Staking
News Report Technology
Gate.io Launchpool Sees Strong Growth In April, Launching 23 Projects And Delivering High Yields Via Mainstream Token Staking
May 6, 2025