According to official news, Alpen Labs, a financial infrastructure on the Bitcoin chain, announced the completion of $8.5 million in strategic financing, led by DBA and Cyber Fund. Ribbit Capital, Castle Island Ventures and Geometry are 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. Strata will be launched as an open platform to expand and promote the use of Bitcoin, which will unlock 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 from next month with the upcoming test network.
Earlier news, Alpen Labs completed $10.6 million in financing, led by Ribbit Capital.