PANews reported on May 26 that YZi Labs announced that it has invested in Avalon Labs, which is committed to building a Bitcoin-native on-chain capital market. Avalon currently serves more than 20,000 BTC, has more than 300,000 active users, and has a total locked value of more than $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 and institutional business expansion, aiming to become the first regulated Bitcoin on-chain financial institution.