Avalon Labs, the company behind the Bitcoin-backed stablecoin USDa, has secured $10 million in a Series A funding round. The round was led by Framework Ventures, with participation from UXTO Management, Presto Labs, and Kinetic Capital. The funds will be used to further develop the USDa stablecoin and its underlying infrastructure. USDa is designed to provide a more stable and reliable alternative to other stablecoins, which are often backed by fiat currencies or other volatile assets. By backing USDa with Bitcoin, Avalon Labs aims to reduce volatility and increase the stability of the stablecoin. The funding round is a significant milestone for Avalon Labs and its mission to create a more stable and reliable financial system. With the additional funding, Avalon Labs will be able to accelerate the development of USDa and its related products and services. This news follows Avalon Labs' recent announcement that it is expanding its operations to the United States. The company plans to open an office in New York City and hire additional staff to support its growth in the US and internationally. ```

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