Portal to Bitcoin raises $25M for atomic cross-chain settlement

Portal to Bitcoin has secured $25 million in funding to develop an atomic OTC desk utilizing Hashed Timelock Contracts (HTLCs) for non-custodial, cross-chain settlement. This funding, with participation from notable investors like Coinbase Ventures and OKX Ventures, validates the concept of atomic, trust-minimized settlement as essential infrastructure. The article clarifies that true atomicity means all operations either complete or fail entirely, with no intermediate states, enforced by cryptographic methods rather than relying on intermediaries. AI

IMPACT Validates and capitalizes on the development of trust-minimized settlement infrastructure, potentially impacting future financial systems.

RANK_REASON Significant funding round for a company developing a novel financial settlement technology. [lever_c_demoted from significant: ic=1 ai=0.1]

Read on dev.to — MCP tag →

• Arrington Capital
• Coinbase Ventures
• Hashed Timelock Contracts
• Hashlock Markets
• OKX Ventures
• Portal to Bitcoin

• funding
• product
• other

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →