Circle Purchases Interop Labs Team to Enhance USDC Cross-Chain Compatibility

Circle's Acquisition of Interop Labs: Circle has signed an agreement to acquire the team and proprietary technology of Interop Labs to enhance its cross-chain capabilities and USDC interoperability across major blockchain ecosystems.

Focus on Talent and Technology: The acquisition emphasizes talent and technology rather than the Axelar ecosystem itself, allowing Axelar to continue operating independently while Circle integrates the Interop Labs team into its engineering efforts.

Enhancing USDC Transfers: The deal aims to improve the speed, efficiency, and cost-effectiveness of USDC transfers across blockchains, particularly on networks like Ethereum, Solana, and Avalanche, while ensuring compatibility with Circle's upcoming Arc blockchain.

Commitment to Multichain Future: By acquiring expertise in cross-chain communication, Circle is reinforcing its commitment to a multichain financial system, viewing interoperability as essential for the future of stablecoin adoption and institutional compliance.