2 months ago
Bitlayer, a Bitcoin layer-2 network, has raised a full of $16 million, including $11 cardinal successful its Series A backing circular astatine a $300 cardinal valuation, according to a July 23 connection shared with CryptoSlate.
Franklin Templeton, a salient concern absorption steadfast and issuer of spot Bitcoin and Ethereum ETFs, and ABCDE led the Series A backing round.
Bitlayer stated:
“Franklin Templeton’s information marks a notable milestone arsenic Bitlayer becomes the archetypal Bitcoin Layer 2 infrastructure task to unafraid strategical concern from an ETF-licensed institution.”
Its different investors see Framework Ventures, Stake Capital Group, WAGMI Ventures, Skyland Ventures, Flow Traders, GSR Ventures, FalconX, and others.
Eyes BitVM expansion
Bitlayer plans to usage the backing for strategical and superior resources to enactment its expansion. The steadfast is processing a Bitcoin Layer 2 web based connected the Bitcoin Virtual Machine (BitVM) system, which ensures Bitcoin-equivalent security.
Bitlayer launched its mainnet V1 successful April and claims its ecosystem has implicit 200 projects. It is presently ranked arsenic the apical Bitcoin scaling task with implicit $550 cardinal successful full worth locked, according to DeFiLlama data.
Following the motorboat of Mainnet-V1, the Bitlayer squad is moving connected Mainnet-V2, a Bitcoin-native rollup successful which the Layer 2 authorities modulation is secured by a Bitcoin-friendly impervious strategy that combines ZK and fraud proofs.
Kevin He, Bitlayer Co-Founder, stated that Bitcoin has a agelong mode to spell from integer golden to wide adoption. He emphasized the request to code existing issues similar exertion and nationalist perception.
He added:
“We’ve built a important milestone for the aboriginal of Bitcoin Layer 2s. The outgo and show advantages of Bitlayer are significant, and we’re unlocking a immense magnitude of imaginable worth for Bitcoin.”
Meanwhile, Bitlayer’s increasing occurrence reflects the improvement of the Bitcoin ecosystem. Developments similar Ordinals person transformed the blockchain network, shifting its ecosystem from a elemental transactional currency to a level supporting divers integer assets.
The station Franklin Templeton invests successful Bitlayer’s $300M-valued Bitcoin infrastructure appeared archetypal connected CryptoSlate.
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