According to Foresight News, Avalon Labs has announced that the total lending amount for USDa, the first Bitcoin-based over-collateralized stablecoin, has surpassed $270 million. The stablecoin offers a fixed annual interest rate of 8%. Additionally, the total value locked (TVL) for USDa has exceeded $800 million.
Avalon Labs, a leading financial infrastructure platform in the BTCFi sector, has achieved a TVL of over $2 billion. In 2024, the company completed a $10 million Series A funding round led by venture capital firm Framework Ventures.