Bitcoin Priority Protocol Portal to Bitcoin Completes $50 million in New Funding

The bitcoin-first protocol Portal to Bitcoin has raised $50 million in new funding led by Paloma Investments, bringing the total project financing to $92 million.
The funding will be used to support the expansion of the company's adapter, BitScaler, which scales to native Bitcoin without the use of wrapper tokens, custodial bridges, or "messaging or other insecure alternatives." Portal plans to use the new funding to expand its funding program and include institutional and community liquidity providers. Currently, the company is also conducting pilot integrations with wallet and custodial platforms to demonstrate non-custodial token exchanges.