Avalon Labs Raises $10M Series A to Grow Bitcoin (BTC)-Backed Stablecoin
Powered by @unfolded- Avalon Labs has raised $10 million in a Series A funding round to expand its Bitcoin DeFi ecosystem, led by Framework Ventures.
- The company aims to transform Bitcoin from a mere store of value into a versatile financial instrument through various offerings.
- Alongside its USDa stablecoin, Avalon provides services like bitcoin-backed lending, yield-generating savings accounts, and a credit card.
- Stablecoins, like USDa, are digital tokens pegged to traditional currencies, designed to mitigate cryptocurrency volatility while remaining within the crypto ecosystem.