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Circle is preparing to acquire a web 3 infrastructure platform in Taiwan…Details here

Circle is preparing to acquire a web 3 infrastructure platform in Taiwan…Details here

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Answer Circle is preparing to acquire a web 3 infrastructure platform in Taiwan…Details here

USDC cryptocurrency issuer Circle has announced the signing of a definitive agreement to acquire Cybavo, a Taiwan-based crypto and web 3.0 infrastructure platform.

As part of this move, Circle will continue to invest in, develop, operate and add the Taiwan-based company’s products and services as a new product.

With Cubavo, Circle plans to ramp up its own technology capabilities, integrating advanced security, protocol support to Circle account, and optimizing API capabilities to meet customer demand.

The acquisition is expected to provide a broader range of services geared towards organizations and developers building with the USDC stablecoin as well as provide the Web 3.0 infrastructure.

Read:The story of a man who chose to take his entire monthly salary in Bitcoin

Founded in 2018, Cybavo raised $4 million in an initial round last year.

Following the acquisition, Cybavo co-founder and CEO Paul Vane stated:

Circle and CYBAVO share similar operating principles and values.

We are in agreement in the belief that the web3 application market will cross the chasm during the next few years, there will be an expansion of applications on a large scale for both individual and enterprise consumers.

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 its support for the Polygon blockchain on its accounts and APIs.

Read:After the announcement of support from “Nansen”…the price of the FTM cryptocurrency jumps 30% in one day

This move will enable users to benefit from cost-effective and speedy transactions.

Read also:

Ethereum (ETH) price drops to its lowest level since March 2021

US Treasury Secretary: Crypto regulation is necessary and a risky option if it is adopted in retirement savings


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