Bitcoin layer-2 platform Bitlayer has received extra funding in its recent Series A round from investors Franklin Templeton and Polychain Capital. The startup announced securing an additional $9 million in funding, with SCB Limited, Selini Capital, and G-20 Group also participating. Bitlayer developed the OpVM solution, combining fraud proofs (BitVM) and validity proofs (using OP_CAT) to enhance Bitcoin's base layer verification. Its mainnet, launched in April 2024, has generated nearly $900 million in fees in September alone, with a total value locked of $380.7 million. The new funding will aid the upcoming launch of Bitlayer v2. Venture firms like Framework Ventures and StarkWare, among others, have also supported Bitlayer. Co-founder Charlie Hu mentioned Franklin Templeton's interest in exploring yield opportunities through digital assets, particularly on the Bitcoin network, hinting at a potential collaboration between the two entities. Read more AI-generated news on: https://app.chaingpt.org/news

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