Avalon Labs is the issuer of USDa, a bitcoin-backed stablecoin, and builds a Bitcoin decentralized finance (DeFi) ecosystem. The company aims to evolve BTC from a digital store of value into a more active financial instrument that can serve multiple purposes. Users can unlock value in their BTC by collateralizing it to mint USDa at a fixed borrowing rate of 8%. USDa reached $700 million in total value locked (TVL) earlier this month. In addition to the stablecoin, Avalon offers bitcoin-backed lending, yield-generating savings accounts and a credit card. The company raised $10 million in a Series A to grow its Bitcoin DeFi ecosystem. Avalon Finance operates in decentralized finance with a focus on lending services. The company was reported to have secured seed funding to support its lending product. The announced round totaled $1.5 million and is intended to enhance the platform’s DeFi lending capabilities. The article reporting the raise appeared on CoinMarketCap and was authored by Cryptopolitan_News. No revenue, user metrics, founding year, location, or investor names were disclosed in the article. Further operational or product details were not provided beyond the planned enhancement of its lending offering.

Total raised

$12M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2024