Bitlayer Secures $5 Million Through Global Community-Based Fundraising

Bitlayer announced on the 19th that it has secured a total of $5 million (approximately ₩6.92 billion) through a global crowdfunding round.

Bitlayer recently conducted community-based fundraising campaigns on global platforms such as CoinList, GoMining, Echo, and Holdstation, raising $5 million from thousands of investors.

Notably, in the CoinList round, over 6,300 participants helped the campaign exceed its target by 50%, and on the GoMining platform, it succeeded in raising $300,000, even as the platform's first project. Additionally, at Holdstation, the target amount of $190,000 was reached just 28 seconds after the launch.

Bitlayer stated that the funds raised will be used for △expanding operations, △team growth, and △ecosystem development.

Including this community round, the total funds Bitlayer has secured so far amount to $30 million (approximately ₩41.55 billion). Previously, in March 2024, it attracted a $5 million seed investment, and later successfully closed a $20 million Series A investment led by Polychain and Franklin Templeton.

Established in October 2023, Bitlayer Labs is a project that creates a Bitcoin-based DeFi ecosystem by combining Bitcoin and the high-speed smart contract engine BitVM. In 2024, it launched Mainnet V1, and last July introduced a 'trust-minimized' BitVM bridge.

Charlie Hu, Bitlayer co-founder, stated, "We have already completed integrations with major blockchains including Arbitrum, Base, Cardano, and Sui," adding, "Based on the additional funds secured, we plan to launch Mainnet V2 within this year."