On January 9, the Avalanche Foundation announced that VIA Labs has received funding through the InfraBUIDL program. VIA Labs is using this funding to develop the Proto-USD cross-chain protocol for the Avalanche ecosystem.
Proto-USD is introduced to simplify cross-chain liquidity, allowing USDC to be easily converted between Avalanche L1 and other networks, enhancing accessibility, scalability, and overall connectivity of the Avalanche ecosystem.