Portal to Bitcoin, led by CEO Chandra Duggirala, has secured $50 million in funding from Paloma Investments to expand BitScaler, focused on enhancing non-custodial Bitcoin transactions.
BitScaler Expansion
The $50 million funding achievement marks a significant milestone, increasing total funding to $92 million. Chandra Duggirala aims to strengthen non-custodial scaling through BitScaler, designed for native Bitcoin scaling without wrapped tokens or insecure alternatives.
Impact of Institutional Investments
The investment emphasizes a significant step toward improving Bitcoin’s scaling and interoperability without custodial intermediaries. Bitcoin currently holds a market cap of $2.25 trillion, with a dominance of 57.67% and a recent price of $112,768.59, up by 0.75% in the last 24 hours.
Future of Non-Custodial Transactions
The market anticipates further decentralization in Bitcoin transactions. Portal's innovations aim to eliminate custodial risks and strengthen cross-chain transactions through atomic swaps. Chandra Duggirala stated, "Portal intends to solve the problem of custodial risk once and for all using secure and transparent Layer 2 atomic swap technology."
Given the current trends in the financial sector, Portal to Bitcoin is positioned at the forefront of crypto evolution, offering secure solutions for decentralized transactions.
