Avalon Labs Completes Strategic Round of Financing, Led by YZi Labs

According to Mars Finance news, on May 27, it was reported that Avalon Labs, a Bitcoin stablecoin issuer, recently completed a strategic round of financing. The round was led by YZi Labs, with participation from Mirana, CE Innovation Capital, and GSR. This financing will primarily be used to advance the platform's compliance process, including applying for regional financial licenses and preparing public funds, with the aim of laying the foundation for building a compliant on-chain Bitcoin financial institution. Avalon Labs stated that it will further expand institutional lending business, broaden market coverage, and continue to promote the development of Bitcoin financial infrastructure. Currently, Avalon Labs' Bitcoin stablecoin USDa has achieved over $800 million in locked value, with the platform's total locked value (TVL) reaching $1.6 billion, positioning it at the forefront of the Bitcoin chain financial track. In 2024, Avalon Labs completed a $10 million Series A financing round led by Framework Ventures, receiving high recognition from the capital market.