Bitcoin L2 project Bitlayer Labs completes $11 million Series A funding, led by Franklin Templeton and others.

ChainCatcher news, according to Fortune, the Bitcoin L2 project Bitlayer Labs announced the completion of a $11 million Series A financing, led by Franklin Templeton, ABCDE, and Framework Ventures, with participation from Stake Capital Group, WAGMI Ventures, Flow Traders, GSR Ventures, and FalconX. This round of financing brings Bitlayer's total funding to $16 million.

It is reported that Bitlayer is the first Bitcoin infrastructure project to receive ETF-licensed institutional investment, aiming to address the technical challenges of Bitcoin scalability through crypto innovation and blockchain protocol engineering. The project will be used to support various protocols within the ecosystem and continue the development of its Mainnet-V2.