Bitcoin lending platform Lava completes $17.5 million financing and launches dollar yield products, with participation from former Visa and Block executives

ChainCatcher news, focusing on the Bitcoin collateral lending platform Lava, announced that it has completed a $17.5 million Series A extension financing and simultaneously launched a new dollar yield product.

This round of financing was supported by several angel investors, including Peter Jurdjevic from the Qatar Investment Authority and former executives from Visa and Block (formerly Square). The newly launched dollar yield product allows users to provide dollar funds to offer liquidity for Bitcoin collateral loans on the platform and earn yields, with the current annual percentage yield (APY) reaching up to 7.5%. Lava stated that all loans are solely backed by Bitcoin as collateral, with a collateralization ratio exceeding 200%. Lava's previous Series A financing was led by Peter Thiel's Founders Fund and Khosla Ventures.