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• Circle completed its acquisition of CYBAVO in Q3 this year.  
• ADDX was a pre-Series A investor in CYBAVO and held a significant stake. We sold that stake to Circle as part of Circle’s overall acquisition.  
• Taiwan-based CYBAVO is an infrastructure-as-a-service platform providing digital asset custody technology and security services to enterprise customers, such as cryptocurrency exchanges, NFT marketplaces, cryptocurrency wallet providers and fintech service providers.   
• CYBAVO was founded in 2018 by Paul Fan and Tim Hsu, cybersecurity veterans in Taiwan with considerable experience consulting for and helping to build the industry’s biggest companies, including Trend Micro (TYO: 4704) and Qihoo 360 (NYSE: QIHU).  
• The firm’s core product, the CYBAVO VAULT, helps institutions secure and manage their digital assets by eliminating single points of failure through multi-party computation, by implementing a shared risk and responsibility model, and by building custom hardened security stacks, among other measures.  
• To date, CYBAVO’s solution has been used to secure more than 4 million transactions worth over US$35 billion.  

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