Stablecoin issuer Avalon Labs has completed a $10 million Series A funding round, led by Framework Ventures

according to CoinDesk, the Bitcoin-based stablecoin USDa issuer Avalon Labs has completed a $10 million Series A funding round, led by Framework Ventures, with participation from UXTO Management, Presto Labs, and Kenetic Capital.

Avalon's goal is to evolve BTC from a digital store of value into a more active financial tool that can meet various different uses. In addition to the stablecoin, Avalon also offers Bitcoin-backed loans, interest-generating savings accounts, and credit cards.