Merlin Chain completes financing to build native BTC L2, OKX Ventures and others participated in the investment

Merlin Chain, a second-layer Bitcoin solution, announced the completion of financing, with participation from 24 institutions including OKX Ventures, ABCDE, Foresight Ventures, and Arkstream Capital. Merlin Chain focuses on Bitcoin-native solutions, integrating key modules such as the ZK-Rollup network, decentralized oracle network, and fraud proof on the Bitcoin chain, aiming to empower Bitcoin's native assets, protocols, and applications. Ecology, allowing it to continue to innovate and amplify asset potential on the second-layer network. The team behind Merlin Chain, Bitmap Tech (formerly known as RCSV), has been deeply involved in the Bitcoin ecosystem for a long time. In the past year, it has contributed a number of native innovative projects to Bitcoin, with an overall market value of more than $500 million. The BRC-420 “blue box” it issued has become one of the most popular assets in the Ordinals protocol, with the price soaring from $0.15 to $34,000, and its market capitalization is second only to BAYC and CryptoPunks. This round of financing will be used for the continuous upgrading and optimization of Merlin Chain's infrastructure, to better realize the interoperability of assets and users between the first- and second-layer Bitcoin networks, and to enhance the liquidity and richness of its ecosystem.