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Portal Partners with Merlin to Unlock Native Asset Trading Between BTC and the EVM

SAN FRANCISCO, CA - (NewMediaWire) - May 23, 2024 -  Portal, the only trust minimized, bridgeless path to Bitcoin from any other L1 or L2, today announced its integration with Merlin, a pioneering asset adaptation protocol bringing Bitcoin assets to EVM chains. This strategic partnership will integrate Merlin’s $mBTC token into the Portal DEX, enabling users to trade it atomically, without bridges or wrappers, against native BTC and BTC-based assets. The collaboration marks an important step in creating safe and simple access to the wealth creation opportunities on Bitcoin, without custodians, using assets that are familiar to the everyday user.

Chandra Duggirala, CEO and Co-Founder of Portal, said, “Integrating Merlin’s $mBTC token into the Portal DEX will significantly enhance the trading experience for both platforms' users. Portal is really excited to bring native BTC to Merlin, without bridges or custodians. Our partnership marks another leap forward in democratizing the opportunities on Bitcoin and the EVM without the risks of hacking or other exploits, each of which sets back crypto adoption months or indeed years.”

Jeff Yin, Founder and CEO of Merlin, said, "We are thrilled to partner with Portal which is the only trustless cross chain liquidity routing protocol for Bitcoin. It represents a significant advancement in making Bitcoin more accessible and functional across different Bitcoin layers and other EVM chains. By combining Merlin's secure, scalable, and asset adaptation capabilities with Portal's robust, bridgeless trading infrastructure, we are setting new standards for security and ease of use in DeFi transactions. We look forward to bringing our combined solutions to the community, enhancing both user experience and trust in BTCFi."

In addition to the technical integration, Portal and Merlin will collaborate on several educational initiatives. This includes a custom testnet campaign and additional activities tailored to the Merlin community aimed at educating users about the Defi possibilities of Bitcoin made available through the Portal Liquidity Router. Merlin will also fund pools of $mBTC on the Portal DEX to facilitate frictionless trading for its users and expand the adoption of $mBTC outside of the Merlin ecosystem.

Further integrations and community building activities are planned by the two projects, with Merlin seeking to integrate the freshly launched Portal Swaps SDK into its Wallet and DEX infrastructure, and additional utility functions and missions to be introduced on the upcoming Portal mainnet to support on-chain activities.

About Portal DeFi

Portal is the only trust minimized, bridgeless path to Bitcoin from any other L1 or L2. Its Bitscaler infrastructure provides access to ever-expanding opportunities like ordinals on Bitcoin without bridges, wrapping, or custodial risk. The Portal Cross-Chain DEX Network is designed to match the speed, liquidity and user experience of centralized exchanges while eliminating the inherent custody risks of bridges and CEXs. Portal is backed by Coinbase Ventures, Arrington Capital, OKX Ventures, Gate.io and many other prominent investors. For more information, visit https://portaldefi.com, X (Twitter), Discord, Medium and Telegram.

About Merlin 

Merlin Protocol pioneers the adaptation of valuable Bitcoin assets to the EVM, breaking through the infrastructure limitations of the Bitcoin network. Merlin has adapted and issued assets like MBTC, BRC20, Bitcoin, and Bitcoin hashpower in the EVM ecosystem, with Bitcoin Layer 2 protocol compatibility. This flexibility enables users to meet diverse DeFi needs, contributing significantly to Bitcoin's ecosystem growth. For more information, visit https://merlinprotocol.org/, X (Twitter), Discord, and Dev Docs.

Contact:

Jon Lindsay Phillips

7049421557

portaldefi@phillcomm.global