Hodl Hodl founder to launch Debifi lending platform

Max Kedun, founder and CEO of the Hodl Hodl exchange, will launch the Debifi lending platform. He spoke about it at the Baltic Honeybadger conference, CoinDesk reports.

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According to him, the platform will begin operations in the first quarter of 2023. In the initial phase, Debifi will offer clients loans in stablecoins. Six months after launch, fiat loans will become available. In both cases, cryptocurrencies will serve as collateral.

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Kedun noted that the company has already signed agreements with several liquidity providers. He emphasised that, in this capacity, only institutions possessing the necessary licences—such as banks—will be able to join the platform.

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Debifi has also signed contracts with the Bitfinex exchange and the crypto-financial company XBTO. The latter provides fiat loans backed by cryptocurrency. Both firms are investors in Hodl Hodl.

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The platform will not hold client funds in a centralised wallet. Instead, the cryptocurrency serving as collateral will be locked using multisignature.

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The project has backing from Casa, Blockstream and Samson Mow’s Jan3.

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In 2020 Hodl Hodl launched non-custodial P2P platform Lend.

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In 2022, a number of centralised crypto-lending firms faced problems amid the collapse of the Terra ecosystem and the ensuing downturn in the crypto market.

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In August, Hodlnaut’s crypto-lending platform suspended withdrawals, token swaps and token deposits due to a liquidity crisis.

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