Bitcoin infrastructure Alpen Labs completes $8.5 million strategic financing, led by DBA and Cyber Fun

ChainCatcher news, according to official sources, Bitcoin on-chain financial infrastructure Alpen Labs has announced the completion of a $8.5 million strategic financing round, led by DBA and Cyber Fun, with Ribbit Capital, Castle Island Ventures, and Geometry being the largest investors in its seed round and supporting Alpen again in this round. This funding will help accelerate the development of Bitcoin ZK Rollup "Strata" and aim to launch it on the mainnet in 2025.

Strata is set to be launched as an open platform designed to expand and promote the use of Bitcoin, unlocking many practical features 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 starting next month with the upcoming release of its test network.

Previously, it was reported that Bitcoin L2 developer Alpen Labs completed a $10.6 million financing round, led by Ribbit Capital.