Coinbase-Backed Portal Collabs With Bitcoin Sidechain Mintlayer -Breaking
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© Reuters. Colabs with Coinbase-Backed Portals With Bitcoin Sidechain Mintlayer- Portal announced officially its cooperation with Mintlayer
- The collaboration is expected to bring Portal’s uncensorable cross-chain DEX functionality to Mintlayer.
- Portal and Mintlayer CEOs are both excited by this venture.
Portal, an acclaimed Coinbase-backed DeFi platform, announced today that it has partnered with Mintlayer. Portal, a fully self-hosted wallet that is true Cross-Chain Layer-2 DEX on Bitcoin and Mintlayer are sidechain protocols that aim to open decentralized financial markets for the masses, is Portal.
This partnership is expected to bring Portal’s uncensorable cross-chain DEX functionality to Mintlayer, giving new impetus to Bitcoin-based decentralized finance (DeFi).
Mintlayer sidechain assets will increase the trading pairs that are available for Portal DEX users. Additionally, the partnership is expected to benefit Mintlayer by making its assets accessible to a larger user base through Portal’s DEX network.
Portal’s Executive Chairman Dr. Chandra Duggirala says:
Portal DEX allows you to access many financial and other applications for Bitcoin. The Bitcoin protocol can be used as-is, which means it does not require any additional functionality. It can boost Bitcoin adoption and security, as well as its useability in the true global monetary system. Mintlayer support fits naturally into our ecosystem approach for bringing many layers of Bitcoin.
Enrico Rubboli, CEO of Mintlayer states that Mintlayer uses Bitcoin as a tokenization layer, which allows native Swaps, such as using the Lightning Network.
“Portal’s cross-chain DEX can help make multi-chain implementations more viable, allowing token issuers to take advantage of the unique capabilities of different protocols, including Bitcoin sidechains like Mintlayer, thereby plugging the entire web3 ecosystem to the most decentralized and valuable blockchain, and the world’s hardest money.”
It is expected that the partnership will mark a significant milestone in DeFi’s growth on the Bitcoin network. Crypto world is eager to witness the progress the two companies promise.
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