Providers / Firefish
Firefish
P2P non-custodial Bitcoin loan
European-regulated P2P marketplace with multisig escrow. Fiat disbursement and market-driven rates.
Best for: EU and global users who want non-custodial escrow and EUR/CHF style proceeds.
Product and eligibility
Product type
P2P marketplace loan
Collateral
Native BTC
Eligible borrowers
KYC yes; primarily European focus
US availability
USDC instant loans marketed in some regions
Custody and counterparty
Custody model
Non-custodial / P2P
Multisig escrow; platform does not unilaterally hold keys
Rehypothecation
PoR / audits / insurance
Multisig escrow on Bitcoin mainnet
Track record
Prague-based; MiCA-regulated framing; 2022+
Call, cure, and liquidation
Notice, grace period, partial vs full sale, and fees all differ by provider.
1. Starting LTV
50%
2. Margin call
73% / 79% / 86% LTV alert levels
3. Cure window
Top-up until 95% liquidation threshold; no fixed public hour SLA found
4. Liquidation
95%
At 50% starting LTV, Bitcoin must fall about 47.4% for LTV to reach 95%.
- Max initial LTV
- 50% initial (up to about 60% negotiated)
- Liquidation style
- Automated / escrow process
- Liquidation fee
- 5%
- Collateral retrieval
- On repayment
Cost and terms
| Rate range | Marketplace-set; marketing from about 5%; compare bands often about 5.5–16.5% APR |
|---|---|
| Origination fee | None claimed |
| Prepayment fee | Not disclosed |
| Renewal / refinance | Not disclosed |
| Minimum loan | About $800 / €800 class to larger facilities |
| Term options | 3–24 months |
| Liquidation fee | 5% |
| Collateral retrieval | On repayment |
| US availability | USDC instant loans marketed in some regions |
| Unique features | P2P rate discovery; EUR/CHF options; multisig escrow |
Who this is best for
EU and global users who want non-custodial escrow and EUR/CHF style proceeds.
Who should skip
You need a US-only state-licensed CeFi loan desk.