Catenaa, Monday, December 22, 2025- Circle, issuer of the USDC stablecoin, has acquired the team and proprietary technology of Interop Labs, the initial developer behind the Axelar Network.
The deal includes CEO and co-founder Sergey Gorbunov, who will join Circle, with the acquisition expected to close early next year.
Circle said the move aims to enhance interoperability of its digital assets across multiple blockchains.
The company highlighted that the acquisition covers Interop Labs’ proprietary technology only, while the open-source intellectual property will transition to Common Prefix, ensuring continued support for Axelar’s public network.
Circle’s Chief Product and Technology Officer Nikhil Chandhok emphasized the company’s commitment to enabling cross-chain functionality, citing existing products such as USDC and the Cross-Chain Transfer Protocol.
The acquisition positions Circle to expand its infrastructure for onchain asset interoperability.
Ripple, another major US-based stablecoin issuer, also announced efforts to increase interoperability by integrating with Layer 2 blockchains.
The moves come amid growing adoption of US dollar-pegged stablecoins, supported by recent federal legislation that formalizes a regulatory framework for the tokens.
Gorbunov said Common Prefix will continue Axelar’s open-source development while Circle integrates the proprietary technology.
The Axelar Foundation, a nonprofit supporting the network, previously sold $30 million worth of AXL tokens to fund ongoing growth and interoperability initiatives.
