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Alpen Labs Launches Bitcoin-Backed Stablecoin 'BTD'

2025.05.08 22:56:51

On May 8th, according to Financewire, the Bitcoin Layer2 developer Alpen Labs announced the commencement of a Bitcoin-collateralized stablecoin named "BTD." BTD will utilize Bitcoin as full overcollateralization and operate in a trustless manner, being free from the influence of governance or speculative tokens. Additionally, the code has been immutable since its deployment. Previously reported by BlockBeats, on January 13th, Alpen Labs completed an $8.5 million strategic financing round, which was led by DBA and Cyber Fun and involved participation from Ribbit Capital, Castle Island Ventures, and Geometry, among others. On April 10, 2024, Alpen Labs completed a $10.6 million financing round, led by Ribbit Capital and with the participation of Castle Island Ventures, Robot Ventures, and Axiom Capital.
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