Bitcoin Lending

Firefish is a peer-to-peer marketplace for cash and stablecoin loans secured by bitcoin. Collateral is locked in a multisignature address rather than deposited with the lender.

Coinbase enables eligible customers to borrow USDC against bitcoin through the Morpho protocol on Base. The loan is open-ended and uses tokenized bitcoin collateral within an onchain smart contract.

SALT Lending provides cash loans secured by bitcoin and other supported digital assets. Its public materials describe adjustable loan-to-value options and no conventional credit check.

Xapo Bank offers cash loans secured by bitcoin held within its banking platform. The Gibraltar-regulated bank states that collateral remains segregated and is not rehypothecated.

Kraken OTC Lending provides bespoke financing secured by bitcoin or ether. Facilities are available to eligible Pro-level clients with a minimum loan size of $500,000.

Strike offers loans and revolving credit secured by bitcoin. The product is available to eligible US customers without a conventional credit inquiry.

Debifi connects bitcoin borrowers with independent institutional liquidity providers. Its protocol secures collateral in a multi-institution multisignature arrangement for the duration of each loan.

Galaxy provides customized secured lending to institutions, corporations, and accredited individuals. Its desk structures margin loans, collar loans, miner financing, and other digital-asset credit.

Arch Lending provides dollar and USDC loans secured by bitcoin and other supported digital assets. Its current product page publishes rates, collateral controls, and custody arrangements.

APX Lending offers CAD and USDC loans secured by bitcoin or ether. Collateral is held in dedicated BitGo Trust wallets and is not pooled or rehypothecated.

Figure provides cash loans secured by bitcoin, ether, or solana. The current program uses a qualified custodian and a 12-month interest-only term with optional interest deferral.

Hodl Hodl runs a peer-to-peer lending marketplace using bitcoin as collateral. Loans use a multisignature escrow and terms selected by the matched counterparties.

Unchained provides bitcoin-backed loans and custody services built on a collaborative multisig model in which the borrower retains one key to their own collateral at all times. The company originated its first bitcoin-backed loan in June 2017 and reports over $1 billion in total loan originations.

Ledn is a digital asset lending platform offering bitcoin-backed loans to individuals in over 120 countries, with approval based on collateral rather than credit history. The company originated Canada's first bitcoin-backed loan in 2018 and reports $1.4 billion in originations in 2025.