Bitcoin-first protocol Portal completes $50 million financing, advancing BitScaler expansion

The Bitcoin-first protocol Portal to Bitcoin has received $50 million in new funding led by Paloma Investments, bringing the total funding for the project to $92 million. This funding will be used to support the expansion of the company's adapter, BitScaler. BitScaler can scale native Bitcoin directly without the need for wrapped tokens, custodial bridges, or other insecure alternatives. Portal plans to use this new funding to expand its funding program and attract institutional and community liquidity providers. Currently, the company is also piloting integrations with wallets and custodial platforms to showcase non-custodial token exchanges.