The Bitcoin (BTC)-backed lending market continues to mature, shifting from pure hypothesis to offering a robust monetary software for long-term holders.
In a current interview with CriptoNoticias, Pablo Contreras Villarreal, a member of the lending platform Firefish workforce, stated: peer to see (P2P)—, gave his views on the evolution of the sector and why he thinks so. Expertise created by Satoshi Nakamottoah turned It’s at the moment probably the most sturdy monetary assurance software.
Like many Bitcoin adopters, Contreras’ path was not linear. Our first contact with him was in 2018, however preliminary skepticism and market volatility saved him on the sidelines. “They launched it to me in 2018, and like lots of people, I walked previous me and stated, ‘No, I haven’t got the cash proper now,’ and ‘No, it is very costly,'” Contreras stated.
Nonetheless, the macroeconomic scenario of 2025, coupled with the restructuring of his private life, brought on him to rethink his place. “Now’s the time to become involved in Bitcoin,” he instructed himself, and determined to deepen his data via a diploma sponsored by the NGO Bitcoin Argentina.
This educational coaching not solely permits him to grasp the technical fundamentals of the protocol; Firefish is an organization of Czech origin that was trying to broaden its market presence in Argentina.
Peer-to-peer and non-custodial lending
The enterprise mannequin Contreras describes is a departure from conventional banking and centralized cryptocurrency platforms that skilled collapse in earlier cycles. Firefish works primarily based on logic peer to see (peer-to-peer) and non-detainee (No custody).
Because the interviewee defined, This platform serves as a gathering place for pure individuals: Those that want liquidity and have Bitcoin that may be supplied as collateral, and those that have capital (fiat foreign money or stablecoins equivalent to USDC) and need a return.
The important thing to safety is The corporate doesn’t contact the funds. “Firefish won’t obtain and negotiate that Bitcoin, however it would stay within the contract. sensible contract This ensures that “nobody speculates” on customers’ property, lowering the counterparty threat that impacts different entities on this sector.
Bitcoin because the “excellent collateral” for loans
One of many central factors of the dialog revolved across the suitability of Bitcoin as a backup asset. Contreras talked about that The “full collateral” thesis is an idea that platforms are actively selling.
When requested if Bitcoin is best than conventional collateral equivalent to gold or actual property, he gave a powerful reply, citing the liquidity it has demonstrated over the course of this yr.
“Everyone knows that in 2025, 1000’s of Bitcoins would have been launched onto the market, and at some other time they might have fallen, destroying the value. This demonstrates the large liquidity and curiosity in shopping for and promoting Bitcoin.”
For the interviewees, Important traits of digital property – 24/7 buying and selling, its divisibility, its rarity, and its international market – They elevate it above different choices. “Right this moment, it is principally pure and ideal collateral to assist every kind of operations,” he stated. For that reason, the platform maintains a strict coverage of “Bitcoin solely. A platform by Bitcoiners, for Bitcoiners.”
Discussions over privateness and KYC
A delicate subject within the bitcoiner neighborhood is consumer identification, in English. know your clients (KYC). Being a regulated platform in Europe, Firefish requires identification verification, sparking debate over privateness and financial advantages.
Mr. Contreras addressed this level in a sensible manner, declaring that: Regulatory compliance instantly advantages customers’ pockets. “Anonymity remains to be costly on this Bitcoin world,” he stated, explaining that platforms that do not require identification verification are usually riskier and due to this fact extra expensive.
“I imagine the long run is no less than one the place your Bitcoin and your world are blended.” Non-KYC And the world is regularly adopting that,” he stated in a private capability. Mass adoption means integration with conventional monetary programs: “If you wish to undertake Bitcoin, you may’t count on full anonymity endlessly.”
Firefish growth and threat administration
Concerning the monetary soundness of the mortgage, This technique is predicated on overcollateralization. Interviewees defined that alerts are issued (margin name) prompts customers to deposit further collateral if the worth of Bitcoin drops dangerously. He stated, “Malicious collateral setting that might end in liquidation just isn’t within the pursuits of Firefish in any respect,” and emphasised that Firefish has by no means been compelled to liquidate in its roughly three years of operation.
The corporate’s income mannequin is clear, with mortgage charges of 1.5% each year. Wanting forward, the corporate’s technique, co-founded by Igor Newman, seems to be targeted on strategic alliances. “They’re learning partnership. “They’re taking a look at partnerships to broaden all over the world,” Contreras stated, suggesting natural development via native companions is extra viable than opening bodily workplaces in every jurisdiction.
The imaginative and prescient offered by Contreras displays the maturation of the usage of digital property. In brief, it’s a software that leverages Bitcoin’s transparency to supply environment friendly monetary companies, prioritizing technical security and collateral solvency over short-term hypothesis.
