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Decentralized protocol Babylon completes $15 million funding, led by a16z Crypto
PANews January 7 News, according to Fortune magazine, the decentralized protocol Babylon co-founded by Stanford University professor David Tse has completed a $15 million funding round. The round was led by a16z Crypto under Andreessen Horowitz, and the project valuation was not disclosed. Babylon developed a protocol called BTCVaults, aimed at allowing Bitcoin holders to directly use their Bitcoin as collateral without going through third parties (such as exchanges or stablecoin issuers), while retaining asset control. The protocol plans to integrate with the lending protocol Aave in Q2 2026. Tse stated that their goal is to leverage cutting-edge technology to help users bypass intermediaries, making Bitcoin assets generate yields more directly. Babylon was established in 2021, currently has a team of over 40 people, and has not yet generated revenue.