Bitcoin P2P Exchange Hodl Hodl Raises Seed Funding From WhalePanda and Other Private Investors

News and Analysis

Hodl Hodl – a global P2P cryptocurrency exchange that doesn’t hold users funds – recently raised money in the seed round from five private investors

Hodl Hodl has announced the closure of a successful seed round led by crypto trader and investor WhalePanda. Other investors include such crypto traders as Ambroid, Marsmensch and two more private investors. The amount raised is not disclosed.

The company says it will use the funds for further development of its OTC business line, introduction of peer-to-peer prediction contracts (initially announced as peer-to-peer futures), introducing a real-estate related project dubbed Househodl, and improving its P2P exchange.

Speaking to ForkLog, Max Keidun, CEO of Hodl Hodl, said:

“We’re excited to raise funds from Bitcoiners such as ourselves, who understand our projects and our goals and share our vision and values. We are determined to bring Hodl Hodl to new heights in 2019 and are looking forward to deliver new features, such as recently announced peer-to-peer prediction contracts.”

Recently, Hodl Hodl announced its OTC roadmap, which included implementation of 2 out of 3 multisig contracts, launch of its own OTC trading desk, and announcement of its official brokerage arm. This roadmap has been completed by now.

“Hodl Hodl is helping Bitcoin to become what it’s meant to be and that’s fungible peer-to-peer money. With KYC/AML a large part of that is sadly gone. It also makes it easy to find someone locally to trade with and then I’m thinking specifically in countries like Iran that got cut off by SWIFT or in Venezuela where there’s hyperinflation. In countries with banking and monetary policy issues Bitcoin can thrive and Hodl Hodl is building the infrastructure to support it,” added WhalePanda.

Hodl Hodl will release prediction contracts soon, where users will be able to make bets on the outcomes of different events using cryptocurrencies and escrow accounts.

Househodl is the world’s first platform for securely buying and selling real estate with Bitcoin, and the company hopes to introduce the service before the end of the year.

Hodl Hodl’s P2P exchange currently operates full time. For each trade, it generates a unique multisig escrow cryptocurrency address, where the seller locks the funds, and then the buyer sends the fiat according to the agreed upon payment method. The seller then confirms he received the payment and releases funds from escrow directly to the buyer’s wallet.

An exclusive interview with WhalePanda was published by ForkLog last month.

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