Global private market exchange ADDX has sold its stake in Taiwanese Web 3.0 infrastructure platform CYBAVO to Circle, a global financial technology firm and issuer of USD Coin (USDC).
ADDX was a pre-Series A investor in CYBAVO and held a significant stake. Details of the transaction was not disclosed. This deal is a part of Circle’s plans to acquire CYBAVO which was signed in June and concluded in July.
CYBAVO is an infrastructure-as-a-service platform providing digital asset custody technology and security services to enterprise customers, such as cryptocurrency exchanges, NFT marketplaces, cryptocurrency wallet providers, and fintech service providers.
To date, CYBAVO’s solution has reportedly been used to secure more than 4 million transactions worth over US$35 billion.