TechFlow reports, according to Fortune, that Bitcoin L2 project Bitlayer Labs has announced the completion of an $11 million Series A funding round led by Franklin Templeton, ABCDE, and Framework Ventures, with participation from Stake Capital Group, WAGMI Ventures, Flow Traders, GSR Ventures, FalconX, and others. This brings Bitlayer's total raised capital to $16 million.
Bitlayer is the first Bitcoin infrastructure project to receive investment from ETF-approved institutions, aiming to address Bitcoin's scalability challenges through cryptographic innovation and blockchain protocol engineering. The funds will support multiple protocols within its ecosystem and further development of its Mainnet-V2.
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