Circle acquires Interop Labs team, initial developer of Axelar Network
The Block
Circle has acquired the team and proprietary technology from Interop Labs, the initial developer of the Axelar Network.Summary
Circle, the issuer of the second-largest stablecoin, announced the acquisition of Interop Labs's team members and their proprietary technology, with CEO Sergey Gorbunov joining Circle. The acquisition aims to make assets issued on Arc interoperable across various blockchains and is expected to close early next year. Circle clarified that the acquisition covers specific proprietary IP, while the open-source IP of Axelar Network will transition to Common Prefix, ensuring Axelar continues as an open-source innovator with long-term support from the Common Prefix team.
(Source：The Block)