Bitfinity Network secures $12M to bring EVM compatibility and expanded DeFi functionality to Bitcoin using ICP’s Chain Fusion.
Bitfinity Network, a new Bitcoin layer-2 (L2) solution, has launched with $12 million in funding to create Ethereum Virtual Machine (EVM)-compatible decentralized finance (DeFi) functionality for Bitcoin.
The project acquired support from institutional investors like Polychain and ParaFi earlier in 2024, alongside $5 million in over-the-counter (OTC) token sales — primarily contributed by the community.
A press release shared with Cointelegraph stated that the Bitcoin L2 will utilize Internet Computer Protocol’s (ICP) Chain Fusion Technology to enable Bitcoin-native assets “to operate in an Ethereum-compatible ecosystem.”
