Merlin Chain Raises Undisclosed Funding for Bitcoin Layer 2 Solution Expansion

Singapore-based company Merlin Chain has secured an undisclosed amount of funding in a round led by Spartan Group and Hailstone Labs, with participation from Amber Group, Presto Labs, and IOBC Ventures. The Bitcoin Layer 2 solution provider plans to use the funds to expand its development efforts. Merlin Chain's solution uses zero-knowledge (ZK) proofs and Bitcoin's Taproot upgrade to enhance privacy and efficiency while maintaining high security standards. The technology enables secure transactions within the Bitcoin ecosystem by verifying transactions without revealing any underlying data.