PANews reported on January 13 that according to official news, Alpen Labs, a financial infrastructure on the Bitcoin chain, announced the completion of a strategic financing of US$8.5 million, led by DBA and Cyber Fund. Ribbit Capital, Castle Island Ventures and Geometry were the largest investors in its seed round of financing and once again supported Alpen in this round of financing. This round of funds will help it accelerate the development of Bitcoin ZK Rollup "Strata" and release it to the mainnet in 2025.
According to reports, Strata will be launched as an open platform, aiming to expand and promote the use of Bitcoin, which will unlock many practical functions for Bitcoin: simple self-custody, intuitive and privacy-protecting payments, interoperability, Bitcoin-backed lending and stablecoins, and many other on-chain applications. Strata will be open to the public from next month with the upcoming test network.
Earlier in April last year , it was reported that Bitcoin L2 developer Alpen Labs completed US$10.6 million in financing, led by Ribbit Capital.
