Portal to Bitcoin, a Bitcoin-first protocol enabling trust-minimized cross-chain buying and selling, has secured $50 million in new financing led by Paloma Investments, bringing the undertaking’s whole funds raised to $92 million.
The funding will assist the growth of BitScaler, the agency’s adapter that scales native Bitcoin with out wrapped tokens, custodial bridges, or “message passing or different insecure options,” in line with an emailed announcement shared with CoinDesk on Thursday.
The corporate goals to make Bitcoin the settlement layer for thousands and thousands of markets, together with tokenized shares, bonds, stablecoins, and different real-world belongings.
“We wish customers to commerce any asset, conventional or decentralized, and settle with Bitcoin-grade safety, with out custodians ever being concerned,” CEO and founder Dr. Chandra Duggirala stated.
Portal plans to make use of the brand new capital to broaden its grants program and onboard each institutional and group liquidity suppliers. Pilot integrations with wallets and custody platforms are additionally underway to showcase non-custodial swaps.
If Bitcoin succeeds in changing into the default settlement layer for cross-chain buying and selling, it may redraw the map of world crypto liquidity, anchoring tokenized markets on to the world’s largest and most safe blockchain.
Learn Extra: Tokenization of Actual-World Belongings is Gaining Momentum, Says Financial institution of America
