PANews reported on August 5th that Axal, an a16z Crypto portfolio company, announced the launch of an automated stablecoin savings platform. By aggregating multiple leading lending protocols, the platform offers users higher interest rates than traditional bank deposits. The platform automatically allocates users' stablecoins to the protocols with the best interest rates, helping to increase returns and simplify operations.

As reported last year, Axal, an independent agent network development company, completed a $2.5 million pre-seed financing round led by CMT Digital .