Portal to Bitcoin Secures $25M Funding to Launch Revolutionary Trustless Cross-Chain OTC Desk
Forget everything you thought you knew about cross-chain trading. A $25 million war chest just landed in crypto's most ambitious infrastructure project—and it's about to rewrite the rulebook for institutional capital movement.
The Trustless Revolution
Portal's new platform doesn't ask for permission. It bypasses traditional custodians entirely, letting massive Bitcoin holdings flow directly between blockchains without a trusted third party. Think atomic swaps on institutional steroids—executed over-the-counter for whale-sized orders that would crater public markets.
Why This Cuts Deeper
This isn't just another bridge. It's a direct challenge to the fragmented liquidity and counterparty risk that plagues crypto's backend. By removing the intermediary, Portal slashes settlement times and attack vectors in one move. The $25 million vote of confidence signals that big money is tired of patching together workarounds with duct tape and promises.
The New Plumbing
The desk targets the opaque OTC markets where billion-dollar deals traditionally rely on handshake agreements and slow bank wires. Portal's system automates the trust, locking transactions in cryptographic proofs until both sides fulfill their obligations. It turns weeks of legal and operational overhead into minutes of code.
One cynical finance jab? Wall Street spends millions on compliance theater, while crypto builds systems where the rules are baked into the protocol—proving once again that in finance, the most elegant solution is often the one that renders the old gatekeepers obsolete.
TLDR:
- Portal to Bitcoin secures $25M for a trustless Bitcoin OTC desk.
- $25M funding fuels Portal to Bitcoin’s cross-chain trading vision.
- New OTC desk by Portal to Bitcoin offers trustless Bitcoin trades.
- Portal to Bitcoin leverages $25M to enhance cross-chain Bitcoin settlement.
- Bitcoin-centered cross-chain swaps are coming with Portal to Bitcoin’s new desk.
Portal to Bitcoin has secured $25 million in funding to launch its atomic over-the-counter (OTC) trading desk. The funding round was led by JTSA Global, with additional participation from Coinbase Ventures, OKX Ventures, and Arrington Capital. The capital will enable the company to roll out a new platform focused on enabling trustless cross-chain settlement for large-scale trades using Bitcoin.
A Focus on Bitcoin-Centered Cross-Chain Trading
Portal to bitcoin introduces an innovative approach to cross-chain transactions, emphasizing Bitcoin as the core settlement layer. Unlike other solutions that rely on wrapped assets or custodians, Portal to Bitcoin uses native Bitcoin for transactions. This approach ensures that users can trade assets on integrated blockchains securely without the need for intermediaries or bridges.
The company utilizes Hashed Timelock Contracts (HTLCs) and Bitcoin’s Taproot contracts to facilitate these trustless exchanges. These technologies enable the instantaneous and secure exchange of assets between different chains. With the introduction of the OTC desk, Portal to Bitcoin targets institutions and large traders looking for a seamless, non-custodial trading experience.
Portal to Bitcoin’s architecture enables users to swap native Bitcoin for assets on other chains in a decentralized way. This system minimizes trust assumptions, making it a safer option for high-volume traders. Unlike other systems that rely on centralized vaults or validators, Portal to Bitcoin’s model prioritizes security and decentralization.
Portal to Bitcoin’s Technology and Market Position
The technology behind Portal to Bitcoin includes its BitScaler, a layer-3 solution resembling the Lightning Network. BitScaler uses Bitcoin’s Taproot and policy templates to create a hub-and-spoke structure. This structure connects liquidity providers with the network’s validator federation, ensuring that trades are secured using HTLCs.
The company aims to create a liquidity LAYER and decentralized finance (DeFi) stack over Bitcoin, with pooled liquidity for cross-chain swaps. While other platforms offer atomic swaps, they often lack the full liquidity ecosystem that Portal to Bitcoin plans to build. This gives Portal to Bitcoin a significant edge in the cross-chain Bitcoin ecosystem.
Portal to Bitcoin’s notary chain, built on Ethereum’s EVMOS, ensures the protocol’s security. The notary chain helps validate trade matching, pricing, and liquidity pool accounting. With 42 validator slots, the protocol aims for permissionless selection in the future, though the current setup uses trusted validators to manage the node software.
Enhancing the Security and Decentralization of Bitcoin Trading
Portal to Bitcoin’s system stands out due to its emphasis on security and decentralization. Validators in the system play a crucial role in maintaining the integrity of trades but do not control any liquidity pools or vaults. This ensures that user assets are not at risk, even if a validator is compromised.
The use of HTLCs guarantees that funds are either exchanged or refunded, reducing the chances of fraud or system failures. This feature sets Portal to Bitcoin apart from other cross-chain platforms that rely on custodial vaults or wrapped assets. The company aims to provide a more secure and decentralized method for large-scale Bitcoin trades.
As Portal to Bitcoin continues to grow, it seeks to establish itself as a major player in the cross-chain Bitcoin market. The new OTC desk represents a key step in expanding its offerings and ensuring that Bitcoin remains a dominant settlement layer in the global asset markets.
