Portal to Bitcoin, a protocol focused on Bitcoin-first cross-chain trading, secured $50 million in new funding led by Paloma Investments. This round elevates its total fundraising to $92 million. The capital will primarily be utilized to enhance BitScaler, a mechanism designed to expand Bitcoin’s native capabilities without compromising with wrapped tokens or custodial solutions.
Key Takeaways:
- Funding Purpose: The raised funds will assist in refining BitScaler, which facilitates native Bitcoin scaling without relying on less secure methods.
- Company’s Vision: CEO Dr. Chandra Duggirala emphasized the ambition to integrate Bitcoin as the foundational layer for a wide range of market assets including tokenized stocks and bonds.
“We want users to trade any asset, traditional or decentralized, and settle with Bitcoin-grade security, without custodians ever being involved.”
Translation: We aim for all trading assets to benefit from the robust security that Bitcoin provides without the need for custodial intermediaries.
The initiative also aims to foster partnerships with liquidity providers and support non-custodial swaps in their ecosystem.
If successful, this project could significantly alter the landscape of global crypto liquidity, linking numerous tokenized markets directly to Bitcoin.
