Hodl Hodl Enables Bitcoin DeFi Lending Platform for US Users
Posted on November 13th, 2020 by Kyle Torpey and filed under Bitcoin.
According to a Medium post from Hodl Hodl, Bitcoin DeFi lending platform Lend is now available in the United States. The platform enables users to borrow and lend funds on an anonymous, peer-to-peer basis.
Hodl Hodl’s Lend platform launched in October, but users based in the United States were originally not able to use the app.
The platform enables a Bitcoin-native version of the sorts of borrowing and lending services that have become popular at various cryptocurrency banks like BlockFi and Ethereum-based DeFi applications like Compound. Lend is a non-custodial platform built on Bitcoin multisig, and it also features integration with the Liquid federated Bitcoin sidechain.
According to their Medium post, Hodl Hodl says they are able to offer their services to U.S. customers because Lend is non-custodial and the company does not work with the legacy banking system.
In addition to their Lend platform, Hodl Hodl also offers a peer-to-peer exchange product and a non-custodial Bitcoin DeFi betting platform known as Predictions.
Kyle is the creator of The Crypto Feed. Before founding The Crypto Feed, Kyle was a longtime freelance Bitcoin writer at places like Forbes and Bitcoin Magazine.