On January 7, it was reported that Babylon has successfully completed a 15 million USD funding round led by a16z Crypto, part of Andreessen Horowitz. The project’s valuation remains undisclosed.
Babylon’s BTCVaults allows Bitcoin holders to employ their assets as collateral without third-party involvement, aiming to enhance user autonomy and returns. Founded in 2021, with over 40 staff members, the company has not generated revenue yet.
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