đ Bitlayer has just raised an additional $9M in funding from investors including Franklin Templeton Digital Assets and Polychain Capital. đ°
đč Bitlayer develops OpVM technology, which combines fraud proofs and validity proofs, enhancing the security and functionality of the Bitcoin network. đč Bitlayer's mainnet launched in April 2024, generating nearly $900M in fees in September, with a total locked value of $380.7M. đč The Series A round brings the startup's total funding to $25M.
Franklin Templeton is exploring ways to generate profits from Bitcoin for its customers. They are partnering with Bitlayer to develop staking and the Bitcoin ecosystem.
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