From Asset to Collateral: Building Bitcoin’s Credit Infrastructure
summary
Firefish runs an open market for Bitcoin-backed loans using a non-custodial escrow on the Bitcoin chain, with price and payment oracles and pre-signed 3-of-3 keys that route collateral to borrower or liquidation address. The platform claims zero credit risk exposure to lenders, reports 1500% growth year-over-year, 116M originated loans, ~7–8M outstanding, 23,000 users, 300M collateral processed, 0.02% default rate, and an average LTV 45%, plus options for cash or direct-Bitcoin liquidation.
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chapters (6)
- 0:00Introduction and context
- 2:08Real estate vs Bitcoin
- 5:55Growth and regulation
- 9:28Firefish platform mechanics
- 12:21Traction and metrics
- 14:50Q&A and closing
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