LendaSat, the Bitcoin-native peer-to-peer lending platform, today announced the launch of LendaSwap, an atomic swap exchange that enables instant, non-custodial trading between Bitcoin and stablecoins across Ethereum and major EVM-compatible chains.
Powered by the Arkade protocol, Lendaswap uses HTLC-based atomic swaps, a technology similar to the Lightning Network, to provide a seamless experience for those who want to exchange BTC and stablecoins “without giving up self-control, creating an account, or relying on wrapped tokens,” according to a press release shared with Bitcoin Magazine.
Lendaswap will support Ethereum and Polygon at launch, with expansion to Base, Solana, Binance Smart Chain, Arbitrum, and Optimism planned. Swaps are performed via Arkade, a new implementation of the Ark protocol, enabling “instant execution” on the Bitcoin side. Trading will be possible in both directions, allowing users to exchange BTC for stablecoins and vice versa.
“Self-custody of Bitcoin requires infrastructure, not just passive ownership,” said Philippe Hoenisch, co-founder of Lendasat, adding, “Lenderswap is a huge step towards unlocking further utility for BTC and is the first step towards Bitcoin fiat. For the first time, anyone will be able to move between Bitcoin and stablecoins without trusting a custodian, without wrapping, and without asking for permission. This is something that is native to Bitcoin.” This is how finance should be. ”
The startup is demonstrating the power and potential of the Bitcoin scripting language, long dismissed as inferior to Ethereum-era blockchain. The Ark protocol used to enable Lendaswap is a technology that is becoming increasingly popular among Bitcoin enthusiasts and entrepreneurs.
Lendaswap’s technology stack is not open source yet, but the company told Bitcoin Magazine that it is on its near-term roadmap. Lendaswap is currently live at https://swap.lendasat.com/.
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