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Bitcoin Layer-2 Blockchain Bitlayer Raises $11M Led by ETF Issuer Franklin Templeton
Bitcoin layer 2 blockchain Bitlayer Labs said it has raised $11 million in a Series A funding round, at a valuation of $300 million.
The investment was led by ABCDE and Franklin Templeton, one of the spot bitcoin issuers (BTC) ETFs in the US The involvement of Franklin Templeton, a trillion-dollar asset manager, suggests that the world of traditional finance (TradFi) is taking note of developments in decentralized finance (DeFi).
Turing Completeness refers to a system that has all the tools needed to perform any calculation or run any program. Thus it suggests versatility and utility.
“We believe Bitlayer’s unique approach and technology has the potential to unlock new use cases and opportunities for Bitcoin,” Kevin Farrelly, managing director of Franklin Templeton Digital Assets, said in an emailed announcement Tuesday.