The Toronto-based digital-asset savings and credit platform said it will use the capital to help grow its crypto-lending business, including a not-yet-launched Bitcoin-backed mortgage product that will allow clients to purchase property. (The Logic)
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The Toronto-based digital-asset savings and credit platform said it will use the capital to help grow its crypto-lending business, including a not-yet-launched Bitcoin-backed mortgage product that will allow clients to purchase property. (The Logic)
Talking point: People who have built wealth in cryptocurrency often have trouble borrowing against it, preventing them from getting loans that those with more traditional assets could get easily. Crypto lenders like Ledn are filling the gap. The company’s new financing comes just seven months after it announced a $30 million Series A, and included all existing venture funders, with White Star Capital, Kingsway Capital and Coinbase Ventures among them. Ledn’s new mortgage product, which it said it plans to make widely available in Canada and the U.S. in early 2022, will allow clients to put up an equal amount of Bitcoin and property as collateral, the company said.
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