US EditionCircle (CRCL) News: Aiming to Boost Crosschain Capabilities with New Deal
Circle integrates Interop Labs engineers and IP to enhance its Arc blockchain and Cross-Chain Transfer Protocol for seamless USDC and digital asset transfers, deal closing early 2026.
- Yesterday, Circle signed an agreement to acquire the Interop Labs development team and proprietary technology, with the deal expected to close early next year.
- Circle said the acquisition is meant to bolster its tech stack by folding Interop Labs engineers and IP into Arc and the Cross-Chain Transfer Protocol to enable USDC transfers without custodians or bridges.
- Excluding the Axelar network itself, the purchase brought only the development team and IP into Circle, while oversight shifts to Common Prefix and AXL token price dropped 12%.
- Critics and industry watchers said the exclusions favor equity holders over AXL token holders, with some calling the move `outright criminal` and Simon Dedic saying `If not legally, then morally`.
- Adding the Interop Labs team could accelerate cross-chain USDC transfers by enhancing Circle's Arc and Cross-Chain Transfer Protocol, supporting cross-border payments projected to reach $1 trillion annually.
15 Articles
15 Articles
Circle Acquires Axelar Developers Interop Labs, Leaving AXL Token Holders Feeling Betrayed
Key highlights: Circle has acquired Interop Labs, the original developer of the Axelar network, excluding the AXL token and Axelar Foundation from the deal. AXL token holders are expressing outrage, accusing the acquisition of sidelining community investors while benefiting insiders. Development of the Axelar network will continue under Common Prefix, raising questions about future direction and token utility. Stablecoin issuer Circle has anno…
Token Slides 15% after Circle deal takes the developer team, leaves AXL behind
The post Token Slides 15% after Circle deal takes the developer team, leaves AXL behind appeared on BitcoinEthereumNews.com. Axelar’s AXL token fell as much as 13% on Tuesday, according to CoinDesk market data, after stablecoin giant Circle said it had signed an agreement to acquire the team and proprietary intellectual property of Interop Labs, the initial and core developer behind the Axelar Network. Loading… The deal explicitly excludes the A…
On Monday, Circle announced an agreement to acquire the Interop Labs teams, which are neither more nor less the original developers of Axelar (AXL). This announcement was misperceived by the community and the AXL token collapsed. Did Circle sign Axelar's death sentence? AXL collapsed by almost 18% appeared first on Cryptoast.
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