Yala announced the completion of its seed round of financing, raising $8 million, exceeding its target by 3 times. This round of financing was led by Polychain Capital and Ethereal Ventures, and the funds will be used for team expansion, product development and security improvement, and preparation for the mainnet launch. Yala's mission is to connect Bitcoin with various ecosystems through stablecoins, enhance Bitcoin's liquidity and composability, and promote the development of an open Bitcoin DeFi ecosystem. Investors also pledged to pledge more than 2,000 Bitcoins to Yala.