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Hodl Hodl will have more liquidity for loans thanks to the Bitfinex exchange

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The team of the bitcoin exchange P2P Hodl Hodl, announced that it made a strategic alliance with Bitfinex, one of the largest centralized cryptocurrency exchanges.

The press release, published on June 7, 2021 on the Hodl Hodl portal, reveals that, through this commercial alliance, exchange users will soon see the influx of greater liquidity in the loan service ( lend ) .

It should be noted that, at the Establishing this agreement, Bitfinex showed interest in the Hodl Hodl API, examining various solutions that could be built on top of the existing services of the P2P platform. Now, in addition to providing a liquidity boost, teams are also exploring building non-custodial bitcoin lending solutions with the Bitcoin Lightning Network.

We are very excited to partner with such an experienced and influential industry player. The knowledge and professional experience that we could draw from the Bitfinex team is priceless and we see that the cooperation is revolutionary for all of our current and future developments.

Max Kei , CEO of Hodl Hodl.

Noteworthy that one of Hodl Hodl’s problems in some countries is low liquidity, compared to other P2P exchanges, especially in trading operations. This type of commercial agreements could attract new users to the platform , which differs from others by not requiring a KYC verification (acronym in English for «meet your client ») to your users.

Hodl Hodl.
For Hodl Hodl, cooperation with Bitfinex “it is revolutionary for all current and future developments.” Source: Hodl Hodl.

The statement affirms that The Hodl Hodl team will remain independent and adhere to the core value of creating non-custodial, anonymous, and bitcoin-exclusive products.

Wherever Regarding the Lightning network of Bitcoin, recently, Hodl Hodl and Pandora Core partnered to explore development opportunities for a decentralized exchange (DEX) based on this second layer solution . Pandora Core is currently working on the RGB concept, a smart contract system capable of running on the Lightning network, designed with privacy and scalability in mind.

Bitfinex has been one of the were the first exchanges to support RGB and, together with Hodl Hodl and Pandora, have plans to help further develop the system and increase its adoption. For Hodl Hodl, RGB presents an opportunity for the development of non-custodial solutions based on the Lightning network .

Hodl Hodl and its platform P2P lending with bitcoin

The lending platform referred to has been active for several months. It is a system of loans with guarantee in bitcoin that works separately from its main portal, as reviewed by CriptoNoticias on January 20, 2021.

In summary, what Hodl Hodl offers is a free loan market with bitcoin as collateral in an escrow without custodian, which operates centrally; that is, everything happens within the Hodl Hodl servers.

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Sandra Loyd
Sandra is the Reporter working for World Weekly News. She loves to learn about the latest news from all around the world and share it with our readers.

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