According to ChainCatcher news and reported by CoinDesk, the Bitcoin-focused protocol Portal to Bitcoin has secured $50 million in new financing 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 without using wrapped tokens, custodial bridges, or 'messaging or other insecure alternatives.' Portal plans to use this new funding to expand its grant program and attract institutional and community liquidity providers. Currently, the company is also piloting integrations with wallet and custodial platforms to showcase non-custodial token swaps.
