Cryptocurrency Startup Yala Raises $8 Million in Seed Funding

On October 10, cryptocurrency startup Yala raised $8 million in a seed funding round co-led by Polychain Capital and Ethereal Ventures. Other investors in the round include Galaxy Vision Hill, Anagram, ABCDE, Amber Group, HashKey Capital, Satoshi Lab, and UTXO Management. Yala was founded in January, and its founders include former Coin Labs employee Chang, Bin Liu, co-founder of Alchemy Pay, and Vicky Fu, former director of engineering at Circle, all of whom aim to drive the development and expansion of decentralized bitcoin finance.