#Binance âs investment arm YZi Labs has invested in Avalon Labs (#Avalon ) to advance the adoption of Bitcoin ($BTC ) as an active economic asset in global markets.
Avalon Labs is rapidly growing an ecosystem that integrates Bitcoin from a mere store of value to real-world financial applications. Avalonâs Bitcoin-backed stablecoin USDa provides liquidity, stability, and yield to its users without selling Bitcoin, and is currently the second largest Collateralized Debt Position (CDP) on the DeFiLlama platform with over $500 million in locked assets.
Avalon Labsâ ecosystem consists of products such as Bitcoin-backed loan services, interest-bearing savings accounts, and credit cards. The platform currently serves over 20,000 Bitcoins and has reached over 300,000 active users.
With the support of the new investment, Avalon will accelerate its licensing efforts globally, ensuring full compliance with regulatory authorities. In the meantime, Avalon is working with top law firms to prepare for the establishment of a public fund. Avalon also aims to expand its institutional lending activities and become the first fully regulated on-chain Bitcoin financial institution.
Alex Odagiu, YZi Labsâ Investment Director, stated that Avalon has created a strong financial ecosystem using Bitcoinâs security and liquidity, and expressed his belief in the project.
Venus Li, Avalon Labsâ Co-Founder, said, âWith YZi Labsâ support, we will continue to be the leading financial center for Bitcoin. Our goal is to bring Bitcoin into daily life, create new yield opportunities for non-crypto users, and expand the real-world use of Bitcoin.â
Avalonâs altcoin AVL rose 35% after the investment announcement. AVL is being bought at $0.261 at the time of writing.
