Coinspeaker
Franklin Templeton Leads $11M Funding Round for Layer 2 Solution Bitlayer
Financial services firm Franklin Templeton has taken its commitment to the Bitcoin network a notch higher. That is, by throwing its weight behind Bitlayer Labs, a leading layer 2 solution for the flagship cryptocurrency.
According to a Tuesday announcement by Bitlayer, it recently raised $11 million in a Series A funding round after getting help from Franklin Templeton, ABCDE, and Framework Ventures as the lead investors. The round also saw participation from Stake Capital Group, WAGMI Ventures, Flow Traders, GSR Ventures, and FalconX, among others. Expectedly, this fund will play a vital role in enhancing Bitcoin’s scalability and transaction efficiency. Besides, with the kind of prominent institutional backing seen in this round of investment, the investment might turn out to be very crucial for the broader adoption of Bitcoin and its utility in decentralized finance (DeFi) applicatio
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