Yala, specializing in stablecoin issuance and liquidity protocol for Bitcoin, has completed a successful seed funding round, raising $8 million.

Successful Funding Round

Yala successfully completed a seed funding round that was three times oversubscribed. The round was co-led by Polychain Capital and Ethereal Ventures, with participation from notable investors such as Galaxy Vision Hill, Anagram, Amber Group, among others. The funds will be used to expand engineering and security teams ahead of the mainnet launch.

Yala's Strategy

The primary mission of Yala is to unlock Bitcoin liquidity through a protocol that combines stablecoin issuance and multi-chain ecosystems. Yala's modular architecture supports cross-chain module deployment on EVM-compatible platforms such as Ethereum and non-EVM systems like Solana, enhancing Bitcoin composability and driving a connected decentralized finance ecosystem.

Future Plans

Yala is set to release its testnet next week with several key developments in place. Plans include the release of the Testnet V0, which will introduce $YU stablecoin issuance and Pro Mode. Continued efforts focus on building a robust liquidity layer, connecting Bitcoin to major Layer 1 and Layer 2 ecosystems.

Empowered by the backing of major industry players, Yala strides towards its goal of creating a connected multi-chain Bitcoin ecosystem. The company's efforts are dedicated to developing a stable and secure DeFi platform, offering users innovative opportunities.