BEVM Completes Seed and Series A Rounds, Raises Tens of Millions USD
Singapore, Singapore, March 27, 2024 (GLOBE NEWSWIRE) — Exciting news in the world of cryptocurrency as the Bitcoin Layer2 project BEVM has announced the successful completion of its seed round and a portion of its Series A round, raising tens of million USD in funding.
The impressive list of 20+ investors includes RockTree Capital, Waterdrip Capital, Arkstream Capital, and ViaBTC Capital, among others. With a Series A valuation reaching $200 million, BEVM is now set to accelerate its international development and roll-out.
BEVM stands out as the first EVM-compatible Bitcoin Layer2 network built on Taproot Consensus, utilizing $BTC as gas. The project aims to bring 10% of Bitcoin into its Layer2 network environment. The testnet Canary network went live in July 2023, boasting nearly 100,000 on-chain users, over 6 million transactions processed, and more than 30 ecosystem projects. The mainnet launch is scheduled for March 28th.
Gavin Guo, Core Builder of BEVM, expressed his excitement, stating, “Taproot Consensus is the culmination of six years of exploring Bitcoin Layer2 solutions. BEVM’s architecture is the most native and decentralized implementation of Bitcoin primitive & ethos into a Layer2, making it the most decentralized and secure BTC Layer2 solution.”
BEVM has already implemented decentralized Bitcoin cross-chain custody services through Schnorr Signature, MAST, and Bitcoin SPVs. Future plans include launching the “BEVM-Stack” to simplify the deployment of BTC Layer2 for developers and introducing the DBFX protocol for decentralized circulation of Bitcoin on any chain.
Omer Ozden, Chairman of RockTree Capital, shared his optimism about BEVM’s potential, stating, “BEVM is one of the foremost innovation advancements in the Bitcoin ecosystem space. It has significant traction in the Asian market and is years ahead in development compared to other L2 solutions.”
The BTC EVM is at the core of BEVM’s vision, aiming to increase Bitcoin usage and commercial scenarios by offering a decentralized BTC Layer2 compatible with EVM. To learn more about BEVM, visit www.bevm.io or contact business@bevm.io.
Source: BEVM
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