Firefish

Bitcoin Loans

Firefish is a non-custodial, peer-to-peer Bitcoin-backed lending marketplace founded in 2022 in Prague, Czech Republic, operating under MiCA regulation in Europe. Borrowers receive fiat or USDC stablecoins while their BTC is locked in on-chain multisig escrow — Firefish never takes custody. The platform sets a conservative 50% LTV; lenders earn up to 15% APY and borrowers access rates from approximately 6% annually. After raising $1.8M in seed funding in early 2025, Firefish expanded globally and surpassed $100M in total transaction volume.

Details

Lender: Firefish
Ltv Max: 50%
Notable: European P2P platform; borrower locks BTC in 2-of-3 multisig; no custodian risk
Regions: Europe (MiCA),Global
Loan Type: P2P collateralized
Bitcoin Only: Yes
Founded Year: 2022
Custody Model: Bitcoin locked in multisig escrow
Max Ltv Percent: 50
Interest Rate Range: 6%–15% (market-determined)
Accepts Btc Collateral: Yes

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