Yala Launches Bitcoin-Backed Stablecoin on Solana, Boosting DeFi Liquidity

Yala has launched $YU, an overcollateralized stablecoin backed by Bitcoin, marking a significant move towards bringing secure liquidity to the Solana ecosystem. This initiative is supported by the Solana Foundation, which has granted explicit funding and liquidity to ensure a smooth launch. The integration of Bitcoin into Solana unlocks a range of new possibilities for financial transactions and technological advancements within the ecosystem.