DEX Bitcoin Portal raises $34M from Coinbase and OKX

Portala startup that designs a bitcoin exchange platform decentralized has just completed a round of financing from 34 million dollars.

This Tuesday, Portal has announced the closing of a significant fundraising round: $34 million. Several major crypto exchanges have invested in the Bitcoin-focused start-up, including Coinbase, OKX and Gate.io.

Portal is developing a DEX and wallet for the Bitcoin ecosystem. The decentralized platform will enable peer-to-peer exchange of Bitcoins across “a range of blockchains” without the need for risky intermediaries such as bridges or centralized exchanges.

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The startup is also working on a Bitcoin wallet called Portal Wallet. The solution will integrate Portal DEX and enable users to store cryptocurrencies securely.

Portal is carving out a unique place in the evolving Bitcoin landscape, developing an innovative, private, cross-chain DEX protocol that masterfully addresses the complexities and risks of centralized and decentralized exchanges,” commented Dora Yue, founder of OKX Ventures.

Portal’s funding round follows a previous deal completed in 2021, in which the company raised $8.5 million.

The mainnet launch of its protocol is scheduled for next spring. A native token may also be available.

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