SAN FRANCISCO, CA, July 29, 2024 (GLOBE NEWSWIRE) — Portal to Bitcoin, the groundbreaking platform dedicated to unlocking Bitcoin liquidity through the only truly trustless solution, proudly announces major strategic integrations with Bitlayer, Sovryn, and Tari as additional core components of its impending testnet launch.
“We are thrilled to announce the launch of our incentivized testnet and our union with these three outstanding partners, a significant step in our mission to unlock the full potential of Bitcoin liquidity,” said Chandra Duggirala, CEO of Tides Network and Core Contributor of Portal to Bitcoin. “Our commitment to providing a trustless solution is at the heart of everything we do, and our use of the Lightning Network and atomic swaps is a testament to this. This testnet is a crucial phase in our development, allowing us to fine-tune our platform while engaging with our community and rewarding their participation. We believe that Portal to Bitcoin will transform the way users interact with their Bitcoin, providing a secure, efficient, and user-friendly experience.”
Bitlayer is a Bitcoin sidechain/L2 solution that enhances scalability and privacy for blockchain transactions. By integrating Bitlayer, Portal to Bitcoin will be able to offer even faster transaction speeds and improved privacy features. Bitlayer’s BitVM-based technology allows for more efficient processing of transactions, reducing the load on the main Bitcoin blockchain and ensuring that users can enjoy a seamless experience.
“We’re thrilled to integrate with Portal to Bitcoin to bring top-level BTC-FI solutions to market,” said Charlie Hu, Bitlayer co-founder. “Killer applications like Portal will revolutionize the Bitcoin ecosystem, bringing highly sought after financial instruments to the most decentralized, most renowned, and most capital-injected blockchain in the world.”
This integration means that users will benefit from the combined strengths of the Portal Network and Bitlayer, providing a robust and efficient transaction environment. Enhanced privacy features will also ensure that user transactions remain confidential, further bolstering the security of our platform.
Sovryn is the leading Bitcoin Defi project to integrate the Sovryn Dollar (DLLR), an aggregated, BTC-backed stablecoin. The integration of DLLR into the Portal DEX will make it one-click tradable with native BTC using atomic swaps, with no bridges, wrappers or custodians. Sovryn users will also be able to trade against native Runes, Ordinals and other L1 and L2 assets, without the risk of pseudo-custodial solutions. Portal and Sovryn aim this partnership to boost the growth of their respective communities. The Sovryn team shared, “We’re excited Sovryn users will also be able to trade against native Runes, Ordinals and other L1 and L2 assets, without the risk of pseudo-custodial solutions. Portal and Sovryn aim for this partnership to boost the growth of their respective communities.”
Tari is an L1 focused on digital assets and the creation and management of digital assets such as tickets, loyalty points, and in-game items. The integration of Tari with Portal to Bitcoin opens up new possibilities for the tokenization and exchange of digital assets. Users will be able to trade these assets seamlessly, using Bitcoin as the settlement layer.
The Tari Team shared, “Tari teaming up with Portal to Bitcoin is like peanut butter and jelly, but for crypto. This dynamic duo is opening up new possibilities for tokenizing and exchanging digital assets, making Portal to Bitcoin the ultimate bridge between Bitcoin, Ethereum, and yep, Tari! Get ready, because this smooth way to move value between chains is bringing the future right to us!”
This integration not only expands the utility of Bitcoin within our platform but also bridges the gap between traditional digital assets and the world of cryptocurrencies. By leveraging Tari’s protocol, we can offer users a broader range of functionalities and use cases, making Portal to Bitcoin a versatile and comprehensive DeFi solution.
Portal to Bitcoin stands at the vanguard of DeFi innovation, offering users a revolutionary way to access Bitcoin liquidity without relying on centralized intermediaries or custodians. The platform achieves this through a unique integration of the Lightning Network and atomic swaps, ensuring complete security and decentralization. This combination of technologies allows users to conduct transactions and exchanges in a fully trustless environment, maintaining complete control over their assets. The result is a revolutionary approach to unlocking bitcoin liquidity, and is the only fully trustless solution in the marketplace.
At the core of Portal to Bitcoin’s capabilities is the Lightning Network, a second-layer protocol designed to enable instant, low-cost Bitcoin transactions. By utilizing the Lightning Network, Portal to Bitcoin significantly enhances the speed and efficiency of Bitcoin transfers, allowing users to move their assets swiftly and with minimal transaction fees. This is especially beneficial for traders and users who require quick access to their funds.
In addition to the Lightning Network, Portal to Bitcoin employs atomic swaps to facilitate direct peer-to-peer exchanges between Bitcoin and other cryptocurrencies. Atomic swaps are smart contract-based transactions that allow users to exchange one cryptocurrency for another without the need for a trusted third party. This eliminates counterparty risk and enhances the security of the exchange process. Users can trade directly from their wallets, ensuring that they remain in control of their assets throughout the transaction.
About Portal to Bitcoin
Portal to Bitcoin, formerly known as Portal DeFi, conceived by a team of veteran Bitcoin and AI engineers, is dedicated to empowering financial self-sovereignty. Portal is the only custody-less interoperability protocol for Bitcoin. Portal enables fast, low cost atomic swaps between native Bitcoin assets like BTC, Ordinals, and Runes, to L2s and other L1s. With Portal’s technical breakthroughs, there is no bridging or wrapping. User funds are always safe. Portal is backed by Coinbase Ventures, OKX Ventures, Gate.io, Arrington Capital, and many other prominent investors. For more information, visit https://portaltobitcoin.com, X (Twitter), Discord, Medium and Telegram.
Contact:
Jon Lindsay Phillips
7049421557
PortalToBitcoin@phillcomm.global
- Shiprock Capital announces new Senior Investment Counsel - July 1, 2025
- Finnish Steady Energy completes €32 million funding round, accelerates towards world’s first commercial SMR, constructs pilot plant in Helsinki city centre - July 1, 2025
- FCA Approves Asset Reality to Offer Crypto Custody Services in the UK - July 1, 2025
