Hodl Hodl launches DeFi project for Bitcoin-backed loans

On October 22, Hodl Hodl launched a non-custodial p2p platform, Lend at Hodl Hodl, through which users will be able to arrange loans secured by Bitcoin.

The new platform does not require KYC procedures. A smart-contract-based framework provides a transparent collateral custody system.

«The first cryptocurrency possesses all the properties necessary for DeFi, but until now no one has provided users with the ability to p2p-lending on Bitcoin. We decided to change this,» said Hodl Hodl CEO Макс Кейдун.

The project opens a new market for the company, with Lend at Hodl Hodl available to users in the United States.

Just before the launch, Hodl Hodl closed a funding round in which existing investors, including traders WhalePanda and Ambroid, participated. They were joined by Lemniscap and the investment fund Fulgur Ventures. The raised funds will be used to expand the development team, boost marketing, and enter new markets.

Earlier in June, Hodl Hodl became available directly from the BlueWallet Bitcoin wallet.

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