The Bitcoin ecosystem decentralized protocol Babylon has completed a $15 million financing round, led by a16z Crypto

According to Fortune, the decentralized protocol of the Bitcoin ecosystem, Babylon, announced that it has completed a $15 million financing round, led by a16z Crypto, with specific valuation data not yet disclosed.

It is reported that Babylon's competitors include centralized service providers such as Coinbase, Kraken, and Tether, and it is expected to integrate its technology with the lending protocol Aave in the second quarter of this year. The company currently has over 40 employees.