YZi Labs Invests in Avalon Labs, Backer of USDa Stablecoin and BTC-Collateralized Lending

YZi Labs has made a strategic investment in Avalon Labs, a Bitcoin-based on-chain capital markets platform. Avalon Labs offers a range of financial services including BTC-collateralized lending, the USDa stablecoin, savings accounts, and credit card services. USDa is currently the second-largest collateralized debt position (CDP) project on DeFiLlama. Avalon Labs is recognized as the largest issuer of Bitcoin-backed stablecoins and aims to enhance Bitcoin's utility and adoption by transforming it into a more dynamic financial asset. The amount of the investment has not been disclosed.

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