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YZi Labs invests in Avalon Labs to promote the expansion of the Bitcoin financial network.
PANews reported on May 26 that YZi Labs announced its investment in Avalon Labs, which is dedicated to building a Bitcoin-native on-chain capital market. Avalon currently serves over 20,000 BTC, has more than 300,000 active users, and its total lock-up value exceeds $500 million. Its Bitcoin stablecoin USDa has become the second-largest CDP project on DeFiLlama. Avalon plans to use the new round of financing to promote compliance processes and expand institutional business, aiming to become the first regulated Bitcoin on-chain financial institution.