Summary
- YZi Labs announced that it has invested in Avalon Labs, the issuer of a Bitcoin-based stablecoin.
- YZi Labs stated that through Avalon Labs, they aim to transform Bitcoin into a dynamic financial asset.
- Avalon Labs announced that the investment will be used for securing licenses and establishing public funds.
YZi Labs (formerly Binance Labs) has announced an investment in Avalon Labs (AVL), the issuer of the Bitcoin (BTC)-based stablecoin USDa.
On the 26th (local time), YZi Labs stated on X (formerly Twitter), "Avalon Labs is transforming Bitcoin from a passive store of value into a dynamic financial asset," and "We have invested in Avalon Labs." Avalon Labs plans to use the investment for securing licenses and establishing public funds.
Meanwhile, the specific size of the investment has not been disclosed.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
