PANews reported on July 23 that, according to Fortune magazine, Bitcoin's native second-layer network Bitlayer announced the completion of a $11 million Series A financing round, which was jointly led by Franklin Templeton Digital Assets and ABCDE. Bitlayer is a Bitcoin Layer 2 project strategically invested by Bitcoin spot ETF service provider Franklin Templeton. The cooperation between the two parties marks an important milestone, which not only shows Bitlayer's leading position in technological innovation in the entire Bitcoin ecosystem, but also shows that traditional financial institutions are increasing their recognition and support for blockchain technology.

Other investors in this round of Bitlayer financing include Stake Capital Group, WAGMI Ventures, Skyland Ventures, Flow Traders, GSR Ventures, FalconX, Metalpha, 280 Capital, Presto Labs and Caladan. In addition, well-known angel investors such as BRC20 founder DOMO and FactBlock KBW co-founder Brian Kang also participated in this round of financing. The funds raised by Bitlayer in this round of A financing will be used for global market expansion to support more developers to build and deploy more protocols to Bitlayer.

Bitlayer is the first Bitcoin security equivalent Layer 2 based on BitVM, dedicated to becoming the computing layer of Bitcoin. Bitlayer aims to introduce hyper-scalability to Bitcoin while inheriting its security and providing users with a high-throughput, low-cost transaction experience.