The world's first Bitcoin loan! Ledn Cryptocurrency Loan Receives $ 70 Million Funding

Crypto lender Ledn announced on December 15 that it had raised $ 70 million in Series B funding, bringing the company's value to $ 540 million. On the same day, Ledn announced the launch of a new Bitcoin mortgage-backed mortgage product that allows home loan users to purchase Bitcoin using collateral.

The main investor in this fund is 10T Holdings, led by venture capitalist Dan Tapiero. Dan Tapiero will join the board of directors of RedN as one of the events to provide financial services.

Other new entrants to these funds include Golden Tree Asset Management, Raptor Group and FJLabs. Existing investors include Coinbase Ventures, Alan Howard, ParaFi Capital, and private equity firm Susquehanna.

Ledn said the company's business growth was strong in its warmer years, with significant growth in loans and mortgages (mortgages, mortgages, and mortgages).

Ledn co-founder Mauricio Di Bartolomeo said: Ledn has announced more than $ 450 million in loans since its inception, 90% of which will be due in 2021.

Asset swaps topped $ 1.7 billion, up 4,000% from the third quarter of last year. “We now have 100,000 registered users in 127 countries around the world, which is a tenfold increase over the quarter by 2020,” said Mauricio Di Bartolomeo. The company works for retailers and consumers.

Ledn's main assets include Bitcoin and USDC interest rates, Bitcoin and USD borrowings, and the trading potential of the Bitcoin USDC exchange.

On the same day, Ledn announced the launch of a new Bitcoin mortgage-backed mortgage product that allows home loan users to purchase Bitcoin using collateral.

Adam Reeds, co-founder and CEO of Ledn, said: “Most people have a lot of money in the form of Bitcoin, but still cannot use their assets to borrow money from banks. That's why we created these products to give people who choose to invest outside of the core businesses always have access to key business products.

Bitcoin lending products are currently in beta mode and are expected to expand in the United States and Canada as early as 2022. Ledn said the goal is to provide more than $ 100 million in Bitcoin loans by the end of the first. quarter of next year.

Ledn plans to use the new funds to expand the group. The current membership has increased from 8 to over 65. The number of staff is expected to double next year.

Ledn offers similar services to banks, but is not yet managed. Mauricio Di Bartolomeo said Ledn has applied to the Ontario Securities Regulatory Commission to register as a venture capital firm in Canada under Canadian cryptocurrency regulations.

He also clarified that Ledn had registered as a financial services company with the Canadian Center for Reporting and Analysis of Financial Transactions (FINTRAC) and the United States Financial Crime Agency (FINCEN), this which would ensure its compliance with the protection against money laundering and criminal investigations. . Rules for consumers in Canada and the United States.

With Round B, Ledn has raised $ 138 million so far, including a $ 30 million raise in Round A in May, and plans to raise more next year.