The Bitcoin-collateralized lending platform expands its offering with new USDC services.
Firefish, a marketplace for Bitcoin-backed loans, has announced the closing of a $1.8 million funding round to accelerate its global expansion and further develop its institutional lending program.
The company’s focus is to make instant loans accessible using Bitcoin as collateral, while minimizing the need for counterparty trust.
The platform has now extended its offering to include loans in USDC for users in the United States and global markets.
Martin Matejka, CEO and co-founder of Firefish, stated:
“We’re not reinventing TradFi with Bitcoin on the surface—we’re rebuilding lending from the ground up using Bitcoin’s core principles. This investment demonstrates that Bitcoin-native lending can be done at scale—without taking shortcuts.”
Firefish operates in a non-custodial manner: the company does not hold users’ assets, which are never rehypothecated for other loans. Bitcoins used as collateral are locked in on-chain escrow using multi-sig contracts, while fiat loans are settled directly between borrower and lender via standard bank transfers or stablecoins.
Firefish’s recovery feature also allows users to reclaim their bitcoin collateral even in critical scenarios, using a pre-signed recovery transaction.
The funding round included participation from mining pool Braiins. The Czech company recently used Firefish to obtain a $400,000 loan by posting its bitcoins as collateral to expand its business operations.
Eli Nagar, CEO of Braiins, commented:
“It took less than 24 hours to collateralize 8.75 BTC and borrow euros.”
