The Bitcoin (BTC)-backed lending market continues to mature, shifting from pure hypothesis to offering a robust monetary instrument for long-term holders.
In a latest 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. Know-how created by Satoshi Nakamottoah turned It’s at present essentially the most sturdy monetary assurance instrument.
Like many Bitcoin adopters, Contreras’ path was not linear. Our first contact with him was in 2018, however preliminary skepticism and market volatility stored 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.
Nevertheless, the macroeconomic scenario of 2025, coupled with the restructuring of his private life, brought about him to rethink his place. “Now could be the time to get entangled in Bitcoin,” he advised himself, and determined to deepen his information by a diploma sponsored by the NGO Bitcoin Argentina.
This tutorial coaching not solely permits him to know the technical fundamentals of the protocol; Firefish is an organization of Czech origin that was trying to develop 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 based mostly 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 akin 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 can 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 healthier than conventional collateral akin 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, hundreds of Bitcoins would have been launched onto the market, and at another time they’d 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 now, it is mainly pure and ideal collateral to assist every kind of operations,” he stated. Because of this, the platform maintains a strict coverage of “Bitcoin solely. A platform by Bitcoiners, for Bitcoiners.”
Discussions over privateness and KYC
A delicate matter within the bitcoiner group 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 method, mentioning that: Regulatory compliance immediately advantages customers’ pockets. “Anonymity continues to be costly on this Bitcoin world,” he stated, explaining that platforms that do not require identification verification are typically riskier and due to this fact extra expensive.
“I consider the long run is no less than one the place your Bitcoin and your world are blended.” Non-KYC And the world is step by step adopting that,” he stated in a private capability. Mass adoption means integration with conventional monetary methods: “If you wish to undertake Bitcoin, you possibly can’t count on full anonymity ceaselessly.”
Firefish enlargement and threat administration
Concerning the monetary soundness of the mortgage, This technique relies 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 lead to liquidation isn’t within the pursuits of Firefish in any respect,” and emphasised that Firefish has by no means been pressured to liquidate in its roughly three years of operation.
The corporate’s income mannequin is clear, with mortgage charges of 1.5% every year. Trying 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 develop world wide,” Contreras stated, suggesting natural development by native companions is extra viable than opening bodily workplaces in every jurisdiction.
The imaginative and prescient offered by Contreras displays the maturation of using digital property. In brief, it’s a instrument that leverages Bitcoin’s transparency to supply environment friendly monetary providers, prioritizing technical security and collateral solvency over short-term hypothesis.
