Circle decided to buy a cryptocurrency startup Cybavo – Bits Media

Circle company, stablecoin issuer USDC, signed an agreement to acquire cryptocurrency startup Cybavo, serving institutional clients in Singapore.

Circle Co-Founder and CEO Jeremy Allaire (Jeremy allaire) told, that the acquisition of Cybavo will help the company improve its technological capabilities to serve customers, "contributing to the adoption of USDC".

Terms of the deal were not disclosed, expected, that it will be closed soon.

Crypto startup Cybavo was founded in Singapore in 2018 year, The startup's activities are supported by the Taiwanese management company H&D and New Economy Ventures.

Cybavo offers a range of services to customers, including cryptocurrency storage, staking and access to blockchain infrastructure. Технология обслуживания клиентов Cybavo основана на принципе «инфраструктура как услуга», which combines a “distributed risk and liability model” for the storage and security of digital assets, custom workflows, operational control, as well as elements for integrating and launching blockchains.

Circle management recently took part in a discussion about the benefits and challenges of launching a digital US dollar.. According to Circle, запуск цифровых валют центральных банков принесет больше вреда, than good, since many of their advantages are already implemented in private stablecoins.