Bitcoin P2P Exchange Hodl Hodl New financing round

The peer-to-peer (P2P) bitcoin trading and credit platform Hodl Hodl has announced the successful completion of a Series B financing round from Kingsway Capital, Low Time Preference Fund, XBTO and Samson Mow. The total proceeds of the round were not disclosed.

“The ability to conduct Hodl anonymously on a peer-to-peer basis on Hodl’s unprotected platform effectively removes boundaries and enables individuals to enter into financial contracts with someone else around the world in a programmable and verifiable manner, and most importantly, without having to renew them Complete pledge, ”said Grant Gilliam, Managing Partner of Low Time Preference Funds, in an announcement shared with Bitcoin Magazine.

“This will greatly benefit those in repressive and authoritarian areas and we are proud to support Hodl Hodl’s mission,” added Gilliam.

Hodl Hodl said it plans to use the proceeds from the round to bolster its security, usability and communications efforts following the recent challenges the company has faced.

In August, security problems in Hodl Hodl’s Multisig trust system led to the forced liquidation of some contracts on its Lend at Hodl Hodl credit platform. The company’s lack of clear and encrypted communication caused confusion among customers at the time.

“Although we have encountered some bumps recently, at this point we will get stronger, devote more resources to manufacturing high-quality products and make maximum efforts to improve safety, usability and communication,” said Hodl Hodl CEO Max Kei .

All investors in Hodl Hodl will actively participate in the further development of the project, the company announced. The P2P exchange plans to form an advisory board with its investors and project sponsors.

Samson Mow, CSO of Blockstream, who joined as a private investor, said the exchange’s team was building “the perfect platform to usher in a cypherpunk future where people can trade and lend without giving up their keys.”

According to managing partner Greg Carson, Hodl Hodl’s unsecured trading and credit models have also piqued XBTO’s interest.

“We invested in Hodl Hodl because they are developing interesting tools for defi with the Bitcoin network together with first-class partners,” said Carson. “We have high expectations of this excellent entrepreneurial performance and hope to create added value as an investor.”

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