Avalon Labs has secured $10 million in a Series A funding round led by Framework Ventures to enhance its bitcoin-based stablecoin, USDa, which maintains a value pegged to the U.S. dollar. The platform currently serves over 200,000 users and manages more than 20,000 bitcoins, aiming to transform bitcoin into a more liquid financial instrument. In addition to USDa, Avalon offers bitcoin-backed loans, yield-generating savings accounts, and credit cards.
