PANews reported on December 19 that UTXO Stack announced the completion of a new round of financing led by UTXO Management, PAKA Fund and CMS Holdings, with a valuation of US$50 million. The financing will be used to accelerate the development of lightning network liquidity, introduce stablecoins into the Bitcoin ecosystem, and plans to launch airdrop incentives for Bitcoin liquidity providers in early January 2024, while conducting the first token generation event (TGE) on the lightning network.