Babylon raises $15 million, with a16z Crypto participating.

[Babylon Raises $15 Million in Funding, a16z Crypto Participates] According to Mars Finance, Babylon, a decentralized protocol for the Bitcoin ecosystem, has announced the completion of a $15 million funding round, with a16z Crypto participating. Specific valuation figures were not disclosed. Babylon's competitors include centralized service providers such as Coinbase, Kraken, and Tether. It is expected to integrate its technology with the lending protocol Aave in the second quarter of this year. The company currently has over 40 employees.