Bitcoin Layer-2 Chain Bitlayer Raises $11M Led by ETF Issuer Franklin Templeton
Summary
Bitcoin layer-2 blockchain Bitlayer Labs 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, a trillion-dollar asset manager and one of the issuers of a spot bitcoin exchange-traded fund in the U.S. Bitlayer's layer 2 is based on the BitVM paradigm, which allows for Ethereum-style smart contracts on the original blockchain. This technology aims to introduce greater utility to the network without compromising security. Franklin Templeton Digital Assets believes that Bitlayer's unique approach and technology could unlock new use cases and opportunities for Bitcoin.
