Bitcoin-based Cross-Chain DEX Network, Portal, is pleased to announce a new partnership with Blockchain-based Asset Marketplace HighCircleX following plans to help tokenize shares in pre-IPO companies on the Bitcoin blockchain.
Portal is a cross-chain Layer-2 DEX network that simplifies building censorship-resistant communications, media, and one-click execution of cross-chain swaps on top of the Bitcoin blockchain via its Layer 2 and Layer 3 technology. The network deploys a model that makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that’s trust-minimized.
Meanwhile, HighCircleX on the other hand is a platform for the new generation of private equity investments and trading without friction.
In line with Portal’s mission to make DeFi a service that anyone can provide, while maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining, the partnership marks another milestone toward bringing real-world use cases to Bitcoin.
By means of the partnership, the tokenization of equity in private, pre-IPO companies will help to bring liquidity to illiquid assets. It will also increase the utility of the Bitcoin blockchain as Portal continues to build “many layers of applications” on top of it.
Furthermore, the partnership will not only allow users to trade non-security digital assets, but accredited Portal users will also get seamless access to tokenized securities, both from one wallet. This will also increase the available investor base for HighCircleX.
The announcement unveils that the companies whose ownership interest can be tokenized and traded include Klarna, SpaceX, Automation Anywhere, Epic Games, and Cross River Bank, noting that they are some of the finest and most desired pre-IPO companies in the world.
Dr. Chandra Duggirala the Executive Chairman at Portal commented on the partnership saying;
“Portal is bringing real-world use cases to Bitcoin. Eventually, we will see the tokenization of many more financial assets onto the Bitcoin blockchain. Although these assets are not bearer assets like Bitcoin, having both digital asset securities and non-security digital assets available through a simple interface for users who meet accreditation investor criteria marks the beginning of merging the Bitcoin ecosystem with mainstream finance. This also fixes the problem of liquidity fragmentation across many different exchanges and applications”.
Hemanth Golla, the CEO of HighCircleX, also made his comments saying, “HCX makes it a breeze for investors to invest in private equity offerings. It gives members instant access to fractional ownership of stocks in the hottest companies. We believe that tokenization and fast, easy tradeability that come with it will unlock and expand this market tremendously.”
Portal’s integration with HighCircleX will aid HCX in terminating the major limitations that affect the process of investing in private markets as it will enable tokenizing the private holdings.
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