Circle Agrees to Buy Cryptocurrency Startup Cybavo

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Circle, the company behind the stablecoin USD Coin (USDC), has recently signed a definitive agreement to acquire cryptocurrency startup Cybavo.

Cybavo describes itself as an infrastructure platform focused on institutional clients. The company offers a range of services, including cryptocurrency storage and staking.

Among its clients are crypto exchanges, NFT and gaming platforms, as well as DeFi protocols.

Circle CEO Jeremy Allaire has said that the acquisition will allow the company to expand its technology capabilities and customer base. The terms of the deal remain a secret.

Cybavo raised $4 million in August last year.

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