Coinbase & other crypto firm Invested in Bitcoin based Defi project, Portal
Decentralized ecosystem based projects, Portal raised a total of $8.5 million in collaboration with many crypto leading firms.
Portal is a Decentralized finance ecosystem based project, which is aimed to be made on the Bitcoin blockchain base layer.
Eric Martindale, CEO of Portal, said that they will introduce layer 2 protocol that will bring P2P transactions just like centralized exchange but with better security. And also Layer 3 security will avoid any kind of risk.
“Portal is delivering on the promise of self-sovereignty for everyone….Fabric technology enables Layer 3 privacy on cross-chain transactions and eliminates the need for centralized custodians.”
Investors in the Portal project are Coinbase, ArringtonXRP Capital, OKEx, Republic.co, Shima Ventures, LD Capital, Monday Capital, GenBlock, Taureon, Autonomy Capital, Krypital, and B21 Capital.
Most of the companies head said that they are excited for this project because it will be based on the Bitcoin ecosystem and also it will give “alternative bridging mechanism to the growing number of active on-chain users.”
Alongside of these crypto firms, there are many well known crypto players’ names, who are members of this project and invested in Portal. These are Hedera cofounder Kyle Armour, Tether co-founder, Craic Sellars, CEO of Bitcoin.com Danish Chaudhry, and others.
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