Babylon has successfully raised $15 million in a funding round led by a16z crypto. Founded in 2021 by Stanford professors David Tse and Fisher Yu, Babylon is developing BTCVaults, a decentralized protocol designed to enable Bitcoin collateralization without relinquishing control of the cryptocurrency. The company plans to integrate with Aave by the second quarter of 2026. Despite not yet generating revenue, Babylon's team has grown to over 40 members.