USDC stablecoin issuer Circle acquires Taiwan-based blockchain security and custody company CYBAVO.

USDC stablecoin issuer Circle has announced that it has agreed to acquire Taiwan-based blockchain security and custody company CYBAVO. Following the acquisition, more details about future plans will be revealed, and at the Circle crypto ecosystem summit Converge22 in San Francisco in September, they will explain how Circle and CYBAVO will jointly accelerate the adoption of Web3.

USDC stablecoin issuer Circle has announced that it has agreed to acquire the Taiwan-based blockchain security and custody company CYBAVO. Details of the future plans post-acquisition will be disclosed, and at the Circle Cryptocurrency Ecosystem Summit Converge22 in San Francisco in September, Circle will explain how Circle and CYBAVO will jointly accelerate the adoption of Web3.

CYBAVO stated that the collaboration with Circle will realize the vision of bringing blockchain infrastructure, digital assets, and digital currencies to the general public. Circle also mentioned that with CYBAVO, it can enhance its technical capabilities by adding advanced security, workflow, and protocol support to the Circle accounts and API features that customers need, while also providing a broader service package infrastructure for enterprises and developers building on USDC and Web3.

Circle stated that CYBAVO is an "infrastructure-as-a-service" platform that combines its unique "decentralized risk and responsibility model" for digital asset custody and security, highly customizable workflow and operational controls, and integration and operation of blockchains, protocols, and smart contracts. With this platform, developers and enterprises can focus on building applications and services, easily and securely use dozens of different blockchains and protocols, and deliver excellent customer experiences using CYBAVO's powerful custody, security, blockchain node management, smart contract integration layer, and client SDK.

The services provided by CYBAVO include:

• A vault system based on Multi-Party Computation (MPC) with customized rules and workflows, and full API access
• Support for hundreds of blockchain protocols and tokens
• Support for smart contracts and DeFi protocols accessing mainstream L1 and L2 environments
• Multi-chain NFT minting, custody, and trading management
• A client SDK for integrating MPC-based custody and trading services into mobile apps
• Blockchain full node management and staking services
• Deployment in local self-custody and cloud custody delivery for on-premises and cloud deployments