Circle, the company behind the USD Coin Stablecoin (USDC), has signed a definitive agreement to acquire cryptocurrency startup Cybavo.
Cybavo is positioning itself as an infrastructure platform focused on institutional clients. The startup offers a range of services, including cryptocurrency storage and stacking. Clients include bitcoin exchanges, NFT and gaming platforms, and DeFi-protocols.
Circle CEO Jeremy Allair said the new acquisition will allow the company to expand its technology capabilities and customer base. Terms of the deal were not disclosed.