Avalanche Foundation announces that VIA Labs has received a grant through the InfraBUIDL program. VIA Labs is using these funds to develop the Avalanche ecosystem's cross-chain protocol Proto-USD.

According to reports, Proto-USD simplifies cross-chain liquidity, enabling USDC to be easily transferred between Avalanche L1 and other networks, aimed at improving the accessibility, scalability, and overall connectivity of the Avalanche ecosystem.