Share this article
Fintech Provider Portal Raises $34M Seed Round for Bitcoin-Based Decentralized Exchange
Portal aims to offer a decentralized infrastructure for peer-to-peer swapping of BTC across different blockchains without the need for intermediaries, which heighten the risk of hacks.
Updated Mar 8, 2024, 8:39 p.m. Published Jan 30, 2024, 12:14 p.m.
Make us preferred on Google
Portal, a San Francisco-based fintech provider, raised $34 million to support the development of its bitcoin-based decentralized exchange (DEX), which exited stealth mode on Tuesday.
Investors in the round included Coinbase Ventures, Arrington Capital, OKX Ventures and Gate.io, according to an announcement. Portal will also use the funding to advance the development of a non-custodial wallet.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Portal aims to offer a decentralized infrastructure for peer-to-peer swapping of bitcoin across different blockchains without the need for intermediaries such as wrappers, bridges or centralized exchanges (CEX), which heighten the risk of hacks.
"As a staking and swapping layer, interoperability layer and execution layer, Portal’s infrastructure will enable any user to swap bitcoin across a range of blockchains and back in seconds without giving up custody, privacy or security," Portal said.
The healthy size of the funding round is an indicator both of the brightening prospects for raising capital in the crypto industry after a tough couple of years and the growing interest in the use of bitcoin in the decentralized finance (DeFi) world, which is otherwise dominated by altcoins like ether and Solana .
Read More: The Next Phase of DeFi Is Here
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How the ultra-wealthy are using bitcoin to fund their yacht upgrades and Cannes trips
Cometh founder Jerome de Tychey is applying DeFi lending and borrowing on platforms like Aave, Morpho, and Uniswap to structures that help the ultra-wealthy secure loans against their massive crypto fortunes.
What to know:
- Wealthy investors who hold much of their fortune in crypto are increasingly turning to decentralized finance platforms to secure flexible credit lines without selling their digital assets.
- Firms like Cometh help family offices and other rich clients navigate complex DeFi tools, using assets such as bitcoin, ether and stablecoins to replicate traditional Lombard-style collateralized loans.
- DeFi loans can be faster and more anonymous than traditional bank credit but carry volatility and liquidation risks, and Cometh is also experimenting with applying DeFi strategies to traditional securities via ISIN-based tokenization.
Top Stories
