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Bitcoin-Based mostly Lending And Financial savings Platform Ledn Raises $2.7 Million

02/08/2021

This morning, Toronto-based bitcoin lending and saving firm Ledn introduced a $2.7 million financing spherical led by White Star’s Digital Asset Fund, with participation from Darrow Holdings, Coinbase Ventures, International Founders Capital, CMT Digital and Kingsway. 

The Toronto-based firm serves purchasers in over 100 nations by providing interest-paying financial savings accounts for bitcoin and USDC, in addition to bitcoin-backed loans that present debtors with entry to fiat or the chance to purchase extra bitcoin.

In a launch shared with Bitcoin Journal, Ledn mentioned it’ll use the proceeds from the increase to additional speed up its development.

“Over the previous three years, we’ve targeted on constructing a easy and safe platform that permits purchasers to develop their digital wealth by way of financial savings and credit score merchandise,” Adam Reeds, co-founder and CEO of Ledn, mentioned within the launch. “As we develop on our product providing with no-fee buying and selling rolling out within the subsequent a number of months and go deeper into new markets, we couldn’t be extra excited to work with this choose group of prime enterprise buyers that imagine in our mission.”

Along with the brand new fundraise, Ledn can be demonstrating its dedication to transparency by changing into the first-ever digital asset lender to finish a proper “proof-of-reserves” attestation. The examination shall be accomplished by Armanino LLP, a digital asset assurance agency. Transferring ahead, Ledn customers will have the ability to leverage Armanino’s platform to confirm that their very own funds had been included within the attestation, whereas Ledn indicated that shopper privateness and information will stay safe. 

The Ledn crew believes that such proof-of-reserves readability will proceed to turn out to be extra necessary to customers, and the crew hopes that its efforts will affect an industry-wide customary of transparency. 

“We imagine that proof-of-reserves opinions that cowl all belongings and lending actions must be an {industry} customary throughout lending platforms,” mentioned Mauricio Di Bartolomeo, co-founder and CSO of Ledn, within the launch.

The publish Bitcoin-Based mostly Lending And Financial savings Platform Ledn Raises $2.7 Million appeared first on Bitcoin Journal.