- Avalon Labs aims to explore a Bitcoin-backed Public Debt Fund in the US.
- The firm also seeks to provide Bitcoin DeFi yield opportunities for investors.
- BTC failed to reclaim the 20-day EMA and faces significant resistance at $98,500.
Avalon Labs, a big name blockchain firm, has just taken the wraps off an initiative geared towards getting mainstream adoption of Bitcoin-backed financial products rolling.
The firm plans to bridge the gap between traditional finance and crypto by looking into a Bitcoin-backed Public Debt Fund while playing by the rules of the United States Securities and Exchange Commission (SEC).
Bitcoin DeFi for Crypto Natives and Wall Street Types?
According to a press release shared by journalist Colin Wu, Avalon Labs wants to open up Bitcoin DeFi yield opportunities for both hardcore crypto fans and suits on Wall Street.
With Bitcoin getting more and more tangled up in financial institutions’ portfolios via exchange-traded funds (ETFs) and other investment vehicles, Avalon Labs reckons this is prime time to introduce Bitcoin-backed solutions that anyone can use.
Avalon Labs’ mission is to “to unlock Bitcoin DeFi yield fo…
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