Bitlayer, a Bitcoin layer-2 network, has secured $16 million in funding, with Franklin Templeton and ABCDE leading the Series A round. This investment values Bitlayer at $300 million, marking a significant milestone as the first Bitcoin Layer 2 project to receive backing from an ETF-licensed institution. The funding will support Bitlayer's expansion as it develops a Bitcoin Layer 2 network based on the BitVM system. With over 200 projects in its ecosystem and $550 million in total value locked, Bitlayer is a top Bitcoin scaling project. The team is now working on Mainnet-V2, a Bitcoin-native rollup to enhance performance and security. Kevin He, Bitlayer Co-Founder, emphasizes the platform's potential to unlock value for Bitcoin and drive mass adoption. The evolving Bitcoin ecosystem, including developments like Ordinals, is transforming the network into a platform for diverse digital assets. Read more AI-generated news on: https://app.chaingpt.org/news

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