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.
Selskapet sier at det har registrerte kunder i over 127 land, og 44 % av lånekundene er i Latin-Amerika. "Ledns lån i USD har økt med mer enn 25 ganger, og eiendeler på plattformen har oversteget 1.7 milliarder dollar - som representerer en økning på 4,000 % fra tredje kvartal 3. I samme periode har den registrerte brukerbasen vokst nesten 2020 ganger," heter det i kunngjøringen.
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.
Ledn bemerket at ventelisten for det BTC-støttede boliglånsproduktet vokser:
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.
Videre kunngjorde Ledn onsdag at de har sikret seg 70 millioner dollar i en serie B-finansieringsrunde, "som bringer verdivurderingen til 540 millioner dollar."
Deltakende ventureinvestorer inkluderer White Star Capital, Kingsway Capital, Coinbase Ventures, Alan Howard, Parafi Capital, Susquehanna Private Equity Investments, Global Founders Capital, Hashed, CMT Digital, Ascendant Capital og 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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