Source: Fortune
Summary
Stanford professor David Tse has co-founded a startup called Babylon, which has developed a decentralized protocol named BTCVaults. The company aims to enable Bitcoin holders to collateralize their assets directly, without the need for intermediaries like exchanges or stablecoin issuers. Babylon recently raised $15 million from a16z crypto, although Tse did not disclose the startup’s valuation. The company plans to integrate its technology with lending protocol Aave by the second quarter of 2026, and currently has more than 40 employees.
Our Reading
The announcement sounds familiar.
Babylon is positioning itself against well-established competitors like Coinbase and Tether. The startup’s approach allows users to retain control over their Bitcoin, unlike traditional methods. Tse’s academic background fuels the company’s innovative spirit, aiming to translate research into usable products. This optimism disguises the reality of revenue uncertainty.
Author: Evan Null
