Avalon Labs completes strategic round of financing, led by YZi Labs

According to BlockBeats, on May 27th, it was reported that Avalon Labs, the issuer of Bitcoin stablecoins, recently completed a strategic round of financing. This round of financing was led by YZi Labs, with Mirana, CE Innovation Capital, and GSR participating. This financing will mainly be used to promote the platform's compliance process, including applying for regional financial licenses, preparing for public funds, etc., aiming to lay the foundation for building a blockchain compliant Bitcoin financial institution. Avalon Labs stated that it will further expand its institutional lending business, broaden its market coverage, and continue to promote the construction of Bitcoin financial infrastructure in the future. At present, Avalon Labs' Bitcoin stablecoin USDa has achieved over $800 million in lock up volume, and the overall total lock up value (TVL) of the platform has reached $1.6 billion, placing it in a leading position in the financial arena on the Bitcoin chain. In 2024, Avalon Labs completed a $10 million Series A funding round led by Framework Ventures, receiving high recognition from the capital market.