Fintech firm Portal has secured $34 million in seed funding from investors including Coinbase Ventures, Arrington Capital, OKX Ventures, and Gate.io.

The funds will be utilised to develop Portal's decentralised exchange (DEX) and noncustodial wallet, with a focus on enabling atomic swaps for Bitcoin.

Portal aims to facilitate peer-to-peer Bitcoin swaps across various blockchains, eliminating the need for intermediaries through its unique swapping layer.

Atomic swaps provide a secure way to exchange cryptocurrencies without relying on third-party intermediaries, ensuring the trade is either fully completed or not executed at all, enhancing security and efficiency in the crypto space.