Avalon Labs secures $10M funding to expand its Bitcoin-backed stablecoin USDa and Bitcoin DeFi ecosystem.
USDa achieves $700M in TVL, positioning itself as a major Bitcoin-backed solution for collateralized debt in DeFi.
Avalon Labs has closed a $10 million Series A funding round, led by Framework Ventures, with contributions from UTXO Management, Presto Labs, and Kenetic Capital. Avalon Labs is aiming to expand its Bitcoin-backed stablecoin USDa and expand its larger Bitcoin decentralized finance (DeFi) ecosystem, and this strategic funding marks a significant milestone for the company.
With a set borrowing rate of 8%, USDa is especially meant to let consumers collateralize their Bitcoin holdings, therefore presenting a unique alternative in the expanding DeFi sector.
Avalon Labs,
the Omnichain Liquidity for $BTCFithe Bitcoin Money – $USDathe largest lending market in the $BTC ecosystem
We are known for many things but today is not about us. The team from @avalonfinance_ is honored

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