True Bitcoin DeFi? Hodl Hodl Launches No KYC Lending Service
October 22, 2020
Hodl Hodl, a non-custodial Bitcoin exchange, has announced the launch of Lend at Hodl Hodl, a non-custodial P2P Bitcoin-backed lending platform.
Since the beginning of 2020, the Hodl Hodl team has been trying to combine the best features in the lending spaces of both DeFi and Bitcoin.
What we have now is a P2P platform that allows you to lend and borrow globally, using Bitcoin as collateral, and without KYC.
Launching truly P2P Bitcoin-backed lending
— Hodl Hodl (@hodlhodl) October 22, 2020
Lend at Hodl Hodl is based on multisig Bitcoin smart contracts, ensuring a secure and transparent collateral storage system. The technology behind the project is well known and tested backwards and forwards. Hodl Hodl’s trading platform, the team’s first project, was released back in 2018 and uses the same technology for its P2P trading.
“The volumes on our trading platform are growing, and this is a great sign that we are doing an important job. Our unique multisig escrow technology is an ace up our sleeve that we believe will bring much more value in the future. With our lending platform, we are making a huge step towards decentralized finance. We believe that money is for everyone and keeping this in mind, we will be delivering more projects in the future,” said Max Keidun, CEO of Hodl Hodl.
The launch of this project also opened up a new market for Hodl Hodl, since Lend at Hodl Hodl will be available to the U.S. users.
Shortly before the release of its lending platform, Hodl Hodl closed its Series A round from existing investors, including WhalePanda and Ambroid, joined by Lemniscap and Fulgur Ventures. The amount raised is not disclosed.
Funds from this round will be used for hiring more developers, marketing and expanding to new markets.
According to Hodl Hodl, none of this would be possible without the constant support they receive from the Bitcoin community.