Coinbase Leads $8.5M Raise in Crypto Project Bringing DeFi to Bitcoin

Written By Guest User

Coinbase Ventures, ArringtonXRP, OKEx, and others have invested in Portal’s vision of "DeFi built on Bitcoin." Read the full article by: Liam Frost

Key Points:

  • Portal wants to make a decentralized ecosystem on top of the Bitcoin blockchain base layer.

  • If successful this would give BTC all the same smart contract capabilities that Ethereum has. This means it will support lending platforms, yield farming, liquidity pools and more.

  • “By bringing a fast, peer-to-peer, Layer 2 exchange—with the speed of centralized exchanges but with privacy—Portal is delivering on the promise of self-sovereignty for everyone,” noted Portal CEO Eric Martindale.

  • Coinbase Ventures, ArringtonXRP, and others are leading the fund as they are trying to find a way to combat the biggest problem in crypto rn which is cross-chain bridges.

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