{"id":43961,"date":"2024-12-24T04:40:23","date_gmt":"2024-12-24T04:40:23","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/avalon-labs-raises-10m-in-series-a-round\/"},"modified":"2024-12-24T04:40:23","modified_gmt":"2024-12-24T04:40:23","slug":"avalon-labs-raises-10m-in-series-a-round","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/avalon-labs-raises-10m-in-series-a-round\/","title":{"rendered":"Avalon Labs raises $10m in series A round"},"content":{"rendered":"

(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b>
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Avalon Labs, the issuer of Bitcoin (BTC)<\/a>-backed stablecoin USDa, has secured $10 million in a Series A financing round that attracted several venture capital firms.<\/p>\n

\u201cWe are known for many things but today is not about us. The team from Avalon Finance is honored to announce the closing of our 10M Series A Round,\u201d the platform posted<\/a> on X.<\/p>\n

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Avalon Labs,<\/p>\n

the Omnichain Liquidity for $BTCFi<\/a>
the Bitcoin Money \u2013 $USDa<\/a>
the largest lending market in the $BTC<\/a> ecosystem<\/p>\n

We are known for many things but today is not about us. The team from @avalonfinance_<\/a> is honored to announce the closing of our 10M Series A Round, led by\u2026 pic.twitter.com\/22TPMDE6iu<\/a><\/p>\n

\u2014 Avalon Labs \ud83c\udfa9\ud83d\udd2e (@avalonfinance_) December 23, 2024<\/a><\/p>\n<\/blockquote>\n

Venture capital firm Framework Ventures led the funding round, which attracted the participation of UXTO Management, Prestoby Framework Ventures and Kenetic Capital.<\/p>\n

In an announcement, the Avalon Labs team said the project will use the funding support to expand its BTC decentralized finance ecosystem.<\/p>\n

In this case, Avalon\u2019s aim is to evolve Bitcoin from being just a digital store of value to a robust financial instrument.<\/p>\n

\u201cWe are pioneering the future of Bitcoin-backed financial solutions, creating the first comprehensive ecosystem that unlocks the true potential of the world\u2019s leading cryptocurrency\u201d the Avalon team wrote.<\/p>\n

Avalon\u2019s USDa stablecoin allows users to tap into DeFi on Bitcoin by collateralizing it. The platform\u2019s borrowing rate is fixed at 8%, which allows USDa holders to access liquidity while keeping their BTC positions.<\/p>\n

USDa, Avalon\u2019s flagship collateralized debt position (CDP), ranks as the second-largest CDP per data from DeFiLlama<\/a>. Its TVL hit $700 million in early December and its competitors include MakerDAO\u2019s DAI and Liquity<\/p>\n

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