Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » Hodl Hodl Opens Decentralized Bitcoin Lending to US Users

Hodl Hodl Opens Decentralized Bitcoin Lending to US Users

by

Bitcoin maximalists in the US can now get a taste of DeFi.

Hodl Hodl Opens Decentralized Bitcoin Lending to US Users
Shutterstock cover by Niko Natsuki

Key Takeaways

  • Hodl Hodl now allows American customers to use its Bitcoin-based decentralized lending platform.
  • Bitcoin users in the U.S. can borrow and lend funds without giving up their control to private keys.

Share this article

The British decentralized Bitcoin exchange Hodl Hodl said that it is opening its lending service Lend for U.S. customers. 

“Hodl Hodl has not served the U.S. market up until this moment, however, we have always wanted to enter [this] market. So our new Bitcoin DeFi project has become the best tool to start,” said Hodl Hodl in the announcement. 

Hodl Hodl is one of the first decentralized lending platforms in the world that uses Bitcoin.

U.S. residents can now borrow stablecoins such as USDC, USDT,  PAX, or DAI in a decentralized method, using their BTC as collateral. Similarly, the platform allows Bitcoin holders to lend and earn interest. 

The platform does not require KYC, as per the announcement. 

Hodl Hodl allows users to borrow and lend funds without giving up their keys and setting their own loan terms, including interest rates. 

For security and decentralization, the platform uses Bitcoin multisig smart contracts. This means that users’ funds are locked in an address that relies on multiple user keys to authorize a transaction. 

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.