TechFlow news: Portal, a Bitcoin-based cross-chain DEX project, has raised $34 million in seed funding, with participation from Coinbase Ventures, Arrington Capital, OKX Ventures, and Gate.io. This latest round follows Portal's $8.5 million Series A funding round completed in September 2021.
The new capital will be used to develop the company's two flagship products: a decentralized exchange and a non-custodial cryptocurrency wallet.
Dora Yue, founder of OKX Ventures, said: "Portal is carving out a unique niche in the evolving Bitcoin landscape by building an innovative cross-chain private DEX protocol that elegantly addresses the complexities and risks inherent in both centralized and decentralized exchanges."
Reportedly, Portal is developing a solution that enables peer-to-peer Bitcoin swaps across multiple blockchains, eliminating the need for bridges or wrappers through its proprietary swap layer.
