Yala, a Bitcoin liquidity with a modular approach featuring an overcollateralized stablecoin protocol, has raised $8 million in a seed round. According to a press release, the round was co-led by Polychain Capital and Ethereal Ventures, with participation from prominent investors, including Galaxy Vision Hill, Anagram, Amber Group, ABCDE, Ambush Capital, GeekCartel, HashKey Capital, L2 Iterative Ventures (L2IV), SatoshiLab, UpHonest Capital, UTXO Management and 280 Capital. “The capital will be used to fund expansion of Yala’s engineering, growth and security teams ahead of its mainnet launch,” the company said. Yala is set to release its testnet next week.
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