Strata: A Step Towards Scalable Bitcoin Adoption with $8.5M Funding Boost

Alpen Labs, a leading bitcoin infrastructure company, has successfully raised $8.5 million in a strategic funding round to accelerate the development of its Bitcoin ZK Rollup, Strata. The round was led by Cyber Fund and DBA, with participation from early investors Ribbit Capital, Castle Island Ventures, and Geometry.

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Strata, set to debut its mainnet in 2025, will launch as an open platform designed to revolutionize bitcoin usage by offering scalable and secure self-custody solutions. The platform will enhance bitcoin’s usability with features such as user-friendly private payments, interoperability, stablecoins, bitcoin-backed lending, and additional on-chain utilities.

In preparation for its full launch, Strata’s testnet will be available to the public starting February 2025, with developers gaining early access through its devnet. Alpen Labs aims to leverage zero-knowledge proof technology to unlock bitcoin’s full potential and drive widespread adoption.

Commenting on the successful funding round, Alpen Labs stated:

“We’re excited to collaborate with industry leaders to bring Strata to life. By combining advancements in zero-knowledge proofs and bitcoin technology, we are paving the way for innovative solutions that will redefine bitcoin’s role in the financial ecosystem. This funding marks a major step toward launching Strata’s mainnet in 2025.”