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Cryptocurrency startup Yala raises $8 million in seed funding

Cryptocurrency startup Yala has 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. Founded in January by Chang, a former Binance Lab employee, Bin Liu, co-founder of Alchemy Pay, and Vicky Fu, a former engineering director at Circle, Yala aims to drive the development and expansion of decentralized finance in bitcoin.