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The protocol is integrated into banking and financial companies to allow access to credit with
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The platform will launch with its own token, whose ticker is OBC.
Kevin and Víctor Charles, Venezuelan developers who have resided in New York, United States, since 2013, announced the launch of Open Bitcoin Credit (OpenBC), a protocol that allows loans collateralized with bitcoin (BTC). This protocol is designed to integrate with banking and financial company systems, thus facilitating access to BTC-backed credit.
The Charles brothers became known in the Cryptocurrency ecosystem for having created SurBitcoin, the first bitcoin exchange in Venezuela, which, although it is no longer operational, He made history in that nation.
Following the closure of SurBitcoin due to problems such as the closure of bank accounts and the emergence of a fraudulent portal that usurped your name in 2022the brothers developed Coco Wallet, a wallet that allows remittances in stablecoins, offering solutions against inflation and devaluation in Venezuela.
“These experiences showed us the need for decentralized and accessible credit backed by bitcoin,” commented Víctor Charlen in a press release sent to the CriptoNoticias editorial team. OpenBC is presented as a “key tool that did not exist before”, allowing access to credit without traditional intermediariesas explained by Kevin Charles.
Open Bitcoin Credit is presented as a B2B2C model solution, which means that It is destined to be adopted by banks, fintechs and even nationswithout them having to invest resources in developing their own technology. “This way, institutions will not have to invest money and resources in creating this service,” Kevin explained.
The protocol will launch with its own token, OBC, which will serve as a means of governance within the OpenBC ecosystem. This allows users to vote on changes and improvements, and also to cover fees, incentivize liquidity provision, and as collateral for certain financial products. So far, the developers have managed to raise more than $400,000 in the pre-sale of the OBC token, which, according to Victor Charles, will help continue building and promoting the project.
The credit market with bitcoin is on the rise, especially on platforms like Binance, but OpenBC differentiates itself by offering a protocol that established institutions can integrate without the need to develop their own technologythe creators claim.
In this context, CriptoNoticias reported this week that there is interest in launching in Bitcoin the world’s largest DeFi lending protocol. This is something that the Aave platform is evaluating, which wants to deploy in a layer 2 of Bitcoin, called Spiderchain. This demonstrates the growing trend of using bitcoin not only as a store of value, but also as collateral for more complex financial operations.
According to the Charles brothers, the protocol is differentiated from potential fraudulent schemes by its open source code, automated smart contracts, and rigorous security audits by third parties such as CertiK.
“Everything is supported by smart contracts that work automatically and without human intervention. Users always maintain control of their funds,” they say.
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