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News Explorer — Bitcoin Layer-2 Network Bitlayer Labs Secures $11 Million in Funding

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Jul 23, 12:00 pm

Coindesk

Bitcoin Layer-2 Network Bitlayer Labs Secures $11 Million in Funding

Bitlayer Labs, a Bitcoin layer-2 blockchain, has raised $11 million in a Series A funding round, valuing the company at $300 million. The investment was led by ABCDE and Franklin Templeton, indicating growing interest from traditional finance in decentralized finance (DeFi). Bitlayer's layer 2 is based on the BitVM paradigm, which aims to bring Ethereum-style smart contracts to the original blockchain while maintaining security.

Bitlayer Labs, a Bitcoin layer-2 blockchain, has raised $11 million in a Series A funding round, valuing the company at $300 million. The investment was led by ABCDE and Franklin Templeton, indicating growing interest from traditional finance in decentralized finance (DeFi). Bitlayer's layer 2 is based on the BitVM paradigm, which aims to bring Ethereum-style smart contracts to the original blockchain while maintaining security.

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