Lendasat, a Bitcoin-native peer-to-peer lending platform, announced today the launch of Lendaswap, an atomic swap exchange enabling instant, non-custodial trades between Bitcoin and stablecoins across Ethereum and leading EVM-compatible chains.
Powered by the Arkade protocol, Lendaswap uses HTLC-based atomic swaps — a technology similar to that of the Lightning Network — to deliver a seamless experience for anyone looking to swap BTC and stablecoins “without giving up self-custody, creating accounts, or relying on wrapped tokens,” according to a press release shared with Bitcoin Magazine.
Lendaswap will support Ethereum and Polygon at launch, with planned expansion to Base, Solana, Binance Smart Chain, Arbitrum, and Optimism. Swaps are executed via Arkade, the new implementation of the Ark protocol, which should deliver “instant execution” on the Bitcoin side. Trades are also expected to be possible in both directions, so users will be able to swap BTC for stablecoins and vice versa.
“Bitcoin self-custody needs more than passive holding, it needs infrastructure,” said Philipp Hoenisch, co-founder of Lendasat, adding that “Lendaswap is a major step in unlocking more utility for BTC, and marks the first step for BitcoinFi. For the first time, anyone can move between Bitcoin and stablecoins without trusting a custodian, without wrapping, and without asking permission. This is what Bitcoin-native finance should look like.”
The startup demonstrates the power and potential of the Bitcoin scripting language, which had for years been dismissed as inferior to that of Ethereum-era blockchains. The Ark protocol used to make Lendaswap possible is an increasingly popular technology among Bitcoin enthusiasts and entrepreneurs.
None of the Lendaswap tech stack is open source yet, but the company told Bitcoin Magazine it is in their short-term roadmap. Lendaswap is now live at https://swap.lendasat.com/