Elastos Raises $20 Million to Enhance ELA Token as a Bitcoin Reserve Asset

Elastos, a leading decentralized infrastructure provider, has successfully secured $20 million in funding from the private investment firm Rollman Management, as reported by Coindesk on January 30th. The funding will allow Elastos to broaden the scope of its merged-mined ELA token, transitioning it into a Bitcoin reserve asset. This strategic move is poised to enhance the legitimacy and reliability of the ELA token within the cryptocurrency ecosystem.

In addition to this funding, Elastos is poised to evolve its Bitcoin DeFi protocol known as BeL2. The platform aims to facilitate the creation of a comprehensive layer that enhances interoperability and functionality for original blockchains worldwide. This initiative underscores Elastos’ commitment to fortifying its position within the decentralized finance landscape and expanding its operational capabilities in a rapidly evolving market.