- Bitcoin Layer 2 startup raises millions.
- Bitlayer secures $11M in funding.
- Solution aims to enhance Bitcoin’s scalability.
Crypto’s comeback kid
Singapore-based startup Bitlayer has raised $11 million in Series A funding to develop a Bitcoin Layer 2 solution based on the BitVM paradigm.
Bitlayer has already amassed over $500 million in Total Value Locked (TVL) and supports 300 ecological projects.
Big names back the vision
Franklin Templeton and ABCDE co-led the round, joined by a roster of notable investors including Stake Capital Group, WAGMI Ventures, and Flow Traders.
Angel investors DOMO (BRC20 creator) and Brian Kang (co-founder, FactBlock) also threw their weight behind the project.
Founded in 2023, Bitlayer aims to bring ultra-scalability to Bitcoin without compromising security or transaction speed.
The startup’s solution leverages the BitVM paradigm, introduced in October 2022, which allows for complex computations on Bitcoin’s blockchain without altering its core structure.
