Bitcoin Layer 2 Project Bitlayer Completes $11 Million Series A Financing

On July 23, Bitlayer announced the completion of a $11 million Series A funding round. This round was co-led by Franklin Templeton Digital Assets and ABCDE Capital, with Framework Ventures, which previously led the seed round, continuing to participate. Other participants include several investment institutions and well-known angel investors.

Bitlayer is a Bitcoin Layer 2 project dedicated to building a computational layer for Bitcoin. This financing demonstrates Bitlayer's position of technological innovation within the Bitcoin ecosystem and reflects traditional financial institutions' recognition and support for blockchain technology.

Charlie Hu, co-founder of Bitlayer Labs, said: "It's exciting to collaborate with these top funds. Our goal is to build a secure equivalent native Layer 2 on top of Bitcoin finality, creating the history of Bitcoin."

ABCDE Capital managing partner BMAN stated: "Bitlayer has stood out in the Bitcoin Layer 2 space, accumulating a considerable TVL and ecosystem projects. With the implementation of native verification, Bitlayer will be the first native Bitcoin Layer 2, marking a groundbreaking moment."

Franklin Templeton managing partner Kevin Farrelly stated: "We believe Bitlayer's technology has the potential to open new use cases and opportunities for Bitcoin. This investment underscores our commitment to supporting innovation in digital assets."

Since its establishment, Bitlayer has made progress in several areas, including the release of a technical white paper, the launch of a developer incentive program, and the launch of Mainnet-V1. According to data platform statistics, Bitlayer currently holds a TVL share of 32.78% in the Bitcoin Layer 2 track, ranking first.

Bitlayer is building the largest Bitcoin Layer 2 ecosystem, with hundreds of projects already on board, covering various fields such as infrastructure, DeFi, NFTs, and gaming.

The funds from this round of financing will be used to strengthen Bitlayer's global expansion and support more teams in building native protocols on its platform. Bitlayer aims to provide a faster and lower-cost trading experience, accelerating the application of Bitcoin in the DeFi space.

On the technical side, the Bitlayer team is working on the development of Mainnet-V2, which is a Bitcoin-native rollup supported by a proof system that combines ZK and fraud proofs.

In the future, with the support of investors and partners, Bitlayer will continue to promote the development and application of Bitcoin, aiming to become a leading Bitcoin Layer 2 infrastructure.