BlockBeats News, on May 8, according to Financewire, Bitcoin Layer2 developer Alpen Labs announced the launch of a Bitcoin-backed stablecoin 'BTD'. BTD will be fully over-collateralized by Bitcoin, operate under a neutral protocol, unaffected by governance or speculative tokens, and the code will be immutable from the time of deployment.
BlockBeats previously reported that on January 13, Alpen Labs completed a $8.5 million strategic financing round, co-led by DBA and Cyber Fun, with participation from Ribbit Capital, Castle Island Ventures, and Geometry. On April 10, 2024, Alpen Labs completed a $10.6 million financing round, led by Ribbit Capital, with participation from Castle Island Ventures, Robot Ventures, and Axiom Capital.
