Portal to Bitcoin, a pioneering force in the crypto universe, has just bagged a hefty $50 million in fresh funding. Spearheaded by Paloma Investments, this financial boost catapults their total capital raised to a whopping $92 million. Why the big bucks? They’re aiming to revolutionize how we trade, offering users the ability to transact with Bitcoin-grade security—sans custodians.
A New Chapter for Bitcoin
Portal to Bitcoin is on a mission—and it’s a bold one: to transform Bitcoin into the settlement layer for an array of markets. We’re talking about tokenized stocks, bonds, stablecoins, and other real-world assets. Their secret weapon? BitScaler, an innovative adapter that scales native Bitcoin without relying on wrapped tokens or risky alternatives like custodial bridges and message passing. This development could provide a more secure foundation for trading across chains, a notion that has many in the crypto community abuzz. As explored in our recent coverage of Bitcoin vs Gold: Why Choose? Gold Bars Are Now Tokenized on BTC Blockchain, the tokenization of real-world assets on the Bitcoin blockchain is gaining traction.
“We want users to trade any asset, traditional or decentralized, and settle with Bitcoin-grade security, without custodians ever being involved,” said Dr. Chandra Duggirala, the mastermind CEO behind Portal, in an email shared with CoinDesk. A vision that’s as ambitious as it is intriguing.
The Road Ahead
So, what’s next on the horizon for Portal? With this new injection of funds, they plan to ramp up their grants program and bring both institutional and community liquidity providers on board. They’re already testing the waters with pilot integrations with wallets and custody platforms to demonstrate non-custodial swaps. It’s a strategic move, one that could potentially reshape the liquidity landscape by anchoring tokenized markets directly to Bitcoin’s robust blockchain.
The implications are vast. If Bitcoin can indeed become the default settlement layer for cross-chain trading, it could redraw the map of global crypto liquidity. Imagine a world where the largest and most secure blockchain serves as the bedrock for a myriad of markets—it’s a tantalizing possibility.
Historical Context and Industry Impact
This isn’t happening in a vacuum. The crypto world is no stranger to the concept of tokenization; it’s been gaining momentum. The likes of Bank of America have even chimed in, acknowledging the burgeoning trend. But Portal’s approach—eschewing custodians in favor of a trust-minimized protocol—could set a new precedent. For a deeper dive into the regulatory implications, see our coverage of Kraken’s meeting with the SEC crypto task force to discuss tokenization.
Experts have noted that this move aligns with the broader industry shift towards decentralization. By removing intermediaries, Portal aims to enhance security and reduce friction in cross-chain trading. It’s a bold strategy, and one that could make waves if executed successfully.
According to crypto analyst Jenna Patterson, “Portal’s approach could be a game-changer. By leveraging Bitcoin’s security, they’re addressing one of the biggest challenges in crypto trading—trust.”
Looking Forward
Where do we go from here? The road is paved with both potential and uncertainty. While Portal is making strides, the broader market will need to embrace this model for it to truly take off. Moreover, the regulatory landscape—ever the unpredictable beast—could throw up roadblocks.
There’s also the question of scalability. Can Bitcoin handle the influx if it becomes the settlement layer for such a diverse range of markets? It’s a possibility that raises both eyebrows and questions.
In the end, Portal to Bitcoin’s journey is one to watch. With their eyes set on a future where Bitcoin is the spine of cross-chain trading, they’re not just raising funds—they’re raising the stakes. As this saga unfolds, one thing is clear: the crypto world will be paying attention.
Source
This article is based on: A Bitcoin Startup Raised $50M to Allow Users to Trade With ‘Bitcoin-Grade’ Security
Further Reading
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
