Circle, the issuer of the dollar-pegged USDC stablecoin, said it has agreed to acquire Interop Labs’ engineering and product team along with its proprietary intellectual property as it expands its digital-dollar token across multiple blockchain networks.
The transaction does not include the Axelar network or the AXL token, which will continue to operate as an independent open-source blockchain project under its existing governance framework, Circle added. Deal terms weren’t disclosed.
Interop Labs chief executive and co-founder Sergey Gorbunov will join Circle following the transaction, according to a company spokesperson. Interop has been a contributor to Axelar, a cross-chain messaging and settlement framework used to connect multiple blockchain ecosystems.
Circle said the acquisition does not involve protocol ownership or token issuance. The company added that Axelar’s open-source development model will remain unchanged following the transaction. Common Prefix, another contributor to the Axelar project, will take over Interop's activities.
Product developmentInteroperability has become increasingly important for Circle as USDC operates across multiple blockchain networks. Bringing the expertise in-house will help ongoing development of its payments, stablecoin and developer products. Interop’s experience aligns with Circle’s existing tools, including its Cross-Chain Transfer Protocol, which enables USDC transfers between blockchains without the use of wrapped assets.
Circle shares closed near $75 on 15 Dec, before rebounding more than 8% as at 18:20UTC the following day.
Next stepsCircle said the transaction is expected to close in early 2026, subject to customary closing conditions. The Interop Labs team will join Circle to support development across its stablecoin, payments and developer platforms.
