BitlayerLabs

Bitlayer Labs Secures $11M Series A Funding to Power Bitcoin Layer-2 Expansion@Binance Wallet

Singapore, July 23, 2024 — Bitlayer Labs, the pioneering Bitcoin Layer-2 protocol built on the BitVM paradigm, today announced the successful closing of an $11 million Series A funding round, bringing total capital raised to $16 million . The round was co-led by Franklin Templeton and ABCDE Capital, with continued support from Framework Ventures, plus participation from major investors including Stake Capital, WAGMI Ventures, Skyland Ventures, Flow Traders, GSR, FalconX, Metalpha, 280 Capital, Presto Labs, Caladan, and numerous angel backers .

This infusion of capital will accelerate ecosystem growth, bolster development of Bitlayer’s Mainnet-V2 (a Bitcoin-native rollup secured with ZK and fraud proofs), and support expanding Web3 protocol building within the ecosystem .

“Collaborating with globally respected funds validates our mission to achieve Bitcoin finality and deliver a trustless, security-equivalent native Layer-2,” said Charlie Hu, co-founder of #Bitlayer .