Avalon Labs, a company focused on developing a Bitcoin-backed stablecoin, has successfully raised $10 million in a Series A funding round. This financial boost aims to support the expansion and development of their stablecoin project. The funding round was led by notable investors, indicating strong market confidence in the potential of Bitcoin-backed stablecoins. The project seeks to leverage Bitcoin’s established infrastructure to offer a stablecoin with enhanced security and decentralization features.
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