Polychain, Franklin Templeton back Bitlayer’s $9M Series A extension
The Bitcoin layer-2 startup has raised more capital for its upcoming Bitlayer v2, bringing its total funding to $25 million to date.
Bitcoin layer-2 platform Bitlayer has extended its recent Series A round of funding, attracting additional capital from previous investors Franklin Templeton Digital Assets and Polychain Capital.
According to an Oct. 8 announcement, the startup secured an additional $9 million in funding. SCB Limited, RW3 Ventures, Selini Capital, and G-20 Group were also participants in the round.
Bitlayer is behind the OpVM solution, a new technology that combines two types of proofs — fraud proofs (BitVM) and validity proofs (using OP_CAT) — to create a verification solution for Bitcoin’s base layer. It enables the network to verify a broad range of computations, supporting the security and functionality of protocols running on the Bitcoin network.
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Author: Ana Paula Pereira
