PANews reported on February 12 that Avalon Labs announced that it will be committed to promoting the popularization of financial products supported by Bitcoin, targeting both crypto and non-crypto users. The team believes that Bitcoin has proven its value as digital gold, and as more financial institutions issue ETFs and include Bitcoin in their investment portfolios, the market is welcoming a good opportunity for further development. Avalon Labs plans to explore Bitcoin-backed public debt funds based on the SEC framework, aiming to create a leading Bitcoin on-chain capital market.

Earlier news, stablecoin issuer Avalon Labs completed a US$10 million Series A financing round, led by Framework Ventures.