Bitcoin priority protocol Portal to Bitcoin completes $50 million financing, led by Paloma Investments

ChainCatcher news, according to CoinDesk, the Bitcoin-first protocol Portal to Bitcoin has secured a new $50 million round of financing led by Paloma Investments, bringing the project's total funding to $92 million.

This funding 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 the need for "messaging or other insecure alternatives." Portal plans to use this new capital 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.