Global digital asset savings and credit platform Ledn has announced the upcoming launch of a bitcoin-backed mortgage product, calling it “the first product of its kind to hit the market.” The company has also raised $70 million, which brings its valuation to $540 million.
Bitcoin-Backed Mortgage — ‘The First Product of Its Kind to Hit the Market’
Ledn announced Wednesday “the impending launch of a bitcoin-backed mortgage product,” which the company says is “the first product of its kind to hit the market.” The announcement details:
This mortgage will enable Ledn clients to use their bitcoin holdings to purchase a property while continuing to benefit from potential price appreciation of both assets.
Ledn offers interest-bearing savings accounts and bitcoin-backed loans, allowing clients access to capital without having to sell their crypto holdings.
La société affirme avoir enregistré des clients dans plus de 127 pays et 44% de ses clients prêts se trouvent en Amérique latine. "Les émissions de prêts en USD de Ledn ont été multipliées par plus de 25 et les actifs sur la plate-forme ont dépassé 1.7 milliard de dollars, soit une augmentation de 4,000 3 % par rapport au troisième trimestre 2020. Au cours de la même période, sa base d'utilisateurs enregistrés a été multipliée par près de 10", note l'annonce.
Regarding the upcoming bitcoin-backed mortgage product, Ledn explained that “Clients will be able to blend an equal amount of bitcoin and property collateral as part of the mortgage loan.” The company is targeting over $100 million in bitcoin-backed mortgage originations by the end of the first quarter of next year.
Notant que la liste d'attente pour le produit hypothécaire soutenu par la BTC s'allonge, Ledn a noté :
Currently in pilot mode, the Ledn bitcoin-backed mortgage is slated to be made broadly available to clients in the U.S. and Canada in early 2022.
En outre, Ledn a annoncé mercredi avoir obtenu 70 millions de dollars dans un tour de table de série B, "ce qui porte sa valorisation à 540 millions de dollars".
Les investisseurs en capital-risque participants comprennent White Star Capital, Kingsway Capital, Coinbase Ventures, Alan Howard, Parafi Capital, Susquehanna Private Equity Investments, Global Founders Capital, Hashed, CMT Digital, Ascendant Capital et John Pfeffer.
The announcement adds that the company “will use this new capital to strengthen its balance sheet to support the rapid growth of its digital asset lending business, including its new bitcoin-backed mortgage product.”
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