Singapore-based Bitcoin Layer2 Project BEVM Raises Tens of Millions in Seed and Series A Funding

Singapore-based Bitcoin Layer2 project, BEVM, has completed its seed round and part of its Series A round, raising tens of millions of USD from over 20 investors including RockTree Capital, Waterdrip Capital, and ViaBTC Capital. The project's Series A valuation has reached $200m and aims to accelerate its international development and roll-out. BEVM is an EVM-compatible Bitcoin Layer2 network built on Taproot Consensus, which uses $BTC as gas and aims to bring 10% of $BTC into its Layer2 network environment. The project's mainnet is scheduled to launch on March 28th and has already implemented decentralized Bitcoin cross-chain custody services through Schnorr Signature, MAST, and Bitcoin SPVs.