Templar Protocol has launched Cypher Lending, a Bitcoin lending platform offering $100 million in on-chain loans without the need for centralized custodians or KYC requirements. This new platform allows Bitcoin holders to transfer their assets to an immutable smart contract and receive stablecoins in return, promoting decentralized BTC lending solutions. The introduction of Cypher Lending reflects a growing demand for trust-minimized DeFi applications, potentially challenging centralized exchanges by enhancing user privacy and asset sovereignty. This move underscores a significant shift towards decentralized financial services in the cryptocurrency space.