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Only days after leading a US$100 million funding in HashKey Group, OKX Ventures invested in Bitmap Tech to accelerate growth in the bitcoin ecosystem.
The deal size was undisclosed.
Bitmap Tech is the company behind Merlin Chain, a native bitcoin Layer 2 (L2) that runs on top of the main blockchain, mainly to facilitate faster transactions. Akin to an upgraded version of the digital currency, Merlin Chain empowers bitcoin’s native assets, protocols, and products on Layer 1 through its L2 network.
“We have high expectations for Bitmap Tech to integrate more original and comprehensive bitcoin services,” said Dora Yue, founder of OKX Ventures.
Bitmap Tech will use the fresh funds to “further enrich the bitcoin ecosystem and enhance overall liquidity,” according to a statement.
OKX Ventures, which has an initial capital commitment of US$100 million, is the investment arm of global crypto exchange OKX. Some of its recents bets include Omega, Renzo, and DexTools.
See also: US regulator’s approval could trigger bitcoin rush among SEA investors
Editing by Putra Muskita and Dhania Putri Sarahtika
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