SERS’ Investment Group is glad to announce that it has made a strategic investment in Portal, joining top firms such as Coinbase Ventures, Bigcoin Capital, Arrington XRP Capital and Okex as their limited partners.
Founded in 2018, Portal is DeFi built on Bitcoin which uses the excellent properties of Bitcoin and extending its functionality with Layer-2 and Layer-3 cross-chain atomic swap technology enabling greater transparency, anonymity and interoperability altogether. It plans to streamline the process of cross-chain atomic exchanges between BTC and other cryptocurrencies–an issue that is experienced by the cryptocurrency space currently. Most Defi run on the Ethereum blockchain but Portal has successfully managed to utilize and built upon Bitcoin’s features without the inconvenience of going through the formal Bitcoin Improvement Proposal procedure.
In September 2021, Portal raised $8.5m from Coinbase Ventures and many other investing powerhouses towards their goal of bringing Bitcoin-based Defi to everyone. Succeeding that amazing feat, in November 2021, Portal announced that it has secured a strategic partnership with Polygon to advance Defi on Bitcoin which aims to expand its user capabilities. This represents the long-term viability of the project and SIG is pleased to join them on this venture.
“With a strong technical team and the need for interoperability of chains, Portal is moulding itself to be a part of the big institutional powerhouses in the near future,” said Roldwin Ramos, Co-Founder, Sers’ Investment Group. The investment by SIG reflects our confident endorsement of the project and with the help of SIG’s resources and expertise, we are certain Portal will pave the way towards greater cryptocurrency interoperability.