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Bitcoin native interoperability protocol Portal to Bitcoin has completed a $25 million funding round, led by JTSA Global.
According to Deep Tide TechFlow, on December 4, Cointelegraph reported that Portal to Bitcoin, a native Bitcoin interoperability protocol, completed a $25 million funding round and launched an atomic OTC platform based on Hash Time-Locked Contracts (HTLC).
This round of funding was led by digital asset lending institution JTSA Global. Previously, the project had received investments from Coinbase Ventures, OKX Ventures, Arrington Capital, and other institutions.
Chandra Duggirala, founder and CEO of Portal to Bitcoin, stated that the protocol aims to “make Bitcoin the settlement layer for global asset markets without the need for bridges, custodians, or wrapped assets.” The platform is built on the BitScaler layer-3 network and adopts a Lightning Network-like architecture, operating with a federation of validators as central nodes and liquidity providers as spoke nodes.