Share this article
Circle Agrees to Buy Web 3 Infrastructure Platform Cybavo
Circle will invest in research and development related to Cybavo while leveraging its development services.
Updated May 11, 2023, 5:40 p.m. Published Jun 10, 2022, 10:52 a.m.
Payments company Circle agreed to buy Cybavo, a digital asset infrastructure platform that focuses on custody and blockchain application development, for an undisclosed amount.
- Circle is the issuer of the USDC stablecoin and aims to use the acquisition to increase the coin's adoption, according to a press release issued Friday. USDC is the second-biggest stablecoin, behind Tether, with a market cap of about $53.8 billion, according to CoinGecko.
- The acquisition will allow Circle to offer "infrastructure as a service" for companies looking to build on Web 3. That lets developers work on their products without needing to worry about digital asset security, operations and blockchain infrastructure management.
- "Cybavo co-founders Paul Fan and Tim Hsu have built an incredibly impressive product," Circle CEO Jeremy Allaire said in the statement. "They are unlocking value for developers and operators across nearly every major sector impacted by crypto and Web 3."
- Taiwan-based Cybavo was founded in 2018 and raised $4 million in a seed round led by venture capital firm 500 Startups in August last year.
- Circle will invest in research and development related to Cybavo as well as support its products and services.
- In April, Circle raised $400 million in a funding round that included investment from BlackRock (BLK) and Fidelity.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Firm Tether Says It Wants to Take Over Italian Football Club Juventus
The issuer behind the most popular stablecoin said that if the bid succeeds, it prepares to invest $1 billion in the football club.
What to know:
- Tether said it aims to take over popular Italian football club Juventus FC.
- The firm proposed to acquire Exor's 65.4% stake in an all-cash offer, and intends to make a public offer for the rest of the shares.
- Tether reported net profits exceeding $10 billion this year, while its flagship token USDT is the world's dominant stablecoin with a $186 billion market capitalization.
Top Stories
