Stablecoin USDa Issuer Avalon Labs Completes $10 Million Series A Funding Round, Led by Framework Ventures

BlockBeats News, December 23rd, according to CoinDesk, Bitcoin-based stablecoin USDa issuer Avalon Labs has completed a $10 million Series A financing round, led by Framework Ventures, with participation from UXTO Management, Presto Labs, and Kenetic Capital.

Reportedly, Avalon aims to transform Bitcoin from a digital store of value into a more active financial tool that can serve various purposes. In addition to the stablecoin, Avalon also offers Bitcoin-backed lending, interest-generating savings accounts, and credit card services.