Last month, Bull Blockchain Law advised XSY, a company launching a synthetic USD stablecoin on Avalanche, on its $5 million Seed financing round. The round values the company at $25 million post-money and was led by Borderless Capital and Protagonist with additional participation from Paper Ventures, Protagonist, Blizzard Fund, Chainview Capital, Avalanche Fund, Sonic Boom Ventures, and others.
In May, the capital management platform announced the beta release of its flagship product, Unity (UTY), on the Avalanche blockchain. Unity is a digital synthetic dollar designed to unlock liquidity and drive capital efficiency within blockchain.
The company is led by CEO Sean Ford, a founding team member and former CEO of Algorand, and Chief Operating Officer David Markley, former Executive Product Leader at Algorand.
Tyler Harttraft led the Bull Blockchain Law team advising XSY Labs Inc.