Aptos ecosystem stablecoin protocol Thala Labs completes $6 million seed round financing, co-led by ParaFi Capital, Shima Capital, and others

ChainCatcher news, according to The Block, Aptos ecosystem stablecoin protocol Thala Labs announced the completion of a $6 million seed round financing, led by ParaFi Capital, White Star Capital, and Shima Capital, with participation from Beco Capital, LedgerPrime, Saison Capital, and Infinity Ventures Crypto. The Thala Labs team currently has 12 members and will use the funding to expand hiring and increase security audits.

It is reported that Thala Labs is currently building an over-collateralized decentralized stablecoin called Move Dollar, aimed at addressing the threefold dilemma of decentralized stablecoins: peg stability, security, and capital efficiency. (The Block)