Templar Protocol has launched its mainnet, allowing Bitcoin holders to borrow stablecoins directly against BTC without intermediaries, custodians, or KYC, marking a major shift in decentralised Bitcoin lending.
Templar Protocol has officially launched its mainnet, introducing the first ‘Cypher Lending’ protocol that enables Bitcoin holders to borrow U.S. dollar stablecoins against their native BTC without intermediaries or KYC requirements.
The launch comes as institutional custody solutions, such as Coinbase, which alone holds over 10% of circulating BTC, continue to control an increasing share of Bitcoin. Traditional lending platforms have remained largely centralised, making Templar’s permissionless and decentralised approach a significant market shift.
The protocol has already secured $100 million in lending commitments. It combines a decentralised Multi-Party Computation (MPC) network with immutable smart contracts to secure Bitcoin deposits and automate collateralization and repayments. This eliminates custodial risks while maintaining security and efficiency.
Templar is built on an open source architecture with no administrative backdoors, ensuring privacy-first, KYC-free access for users. The protocol plans to implement differential privacy and zero-knowledge protections to guard against predatory liquidations.
Supporting native assets across Bitcoin and other chains without wrapping or bridging, Templar aims to set a new standard for cross-chain DeFi interactions. Its roadmap includes integration with Prime Brokers and wallet providers, further expanding accessibility.
Royal F00l, pseudonymous founder of Templar Protocol, notes:
“The Institutions have arrived, and they are hoovering up BTC using centralised custody of companies like Coinbase. With Templar, you send your BTC to an immutable smart contract, running on a p2p network, which then sends you stablecoins.”
“Bitcoin was created to replace banks, not to be a novel toy asset for Wall Street to financialise and control. Templar restores Bitcoin to its proper place as a permissionless, censorship-resistant asset in the context of borrowing and lending.”
The Templar mainnet is live and accessible through the official website, providing documentation and support for users to borrow against Bitcoin while maintaining full control and transparency.
