Portal to Bitcoin, a Bitcoin Layer 2 protocol, completes $50 million new financing
Jinse Finance reported that the Bitcoin-first protocol Portal to Bitcoin has secured a new $50 million funding round led by Paloma Investments, bringing the project's total funding to $92 million. The funds will be used to support the expansion of the company's adapter, BitScaler. BitScaler enables scaling of native Bitcoin without the use of wrapped tokens, custodial bridges, or "messaging or other insecure alternatives." Portal plans to use the new funds to expand its grant program and attract institutional and community liquidity providers. Currently, the company is also piloting integrations with wallet and custody platforms to demonstrate non-custodial token swaps.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Federal Reserve Governor Waller: No Need for Major Rate Cuts in September, Employment Report Will Be Key
Federal Reserve Governor Waller warns of increasing downside risks in the labor market
Trending news
MoreCrypto prices
More








