Ledn chooses BitGo to provide insured custody as it sets sight on Latin America to help more people save in bitcoin
TORONTO, April 16, 2019 /PRNewswire/ - Today Ledn Inc. ("Ledn"), Canada's largest bitcoin credit & savings company, announced that it has chosen BitGo Inc. ("BitGo"), to provide insured custody for its clients' assets. BitGo Trust Company is the world's first qualified custodian purpose-built for storing digital assets. Bitcoin held by Ledn and its clients in BitGo Trust Company will be covered by a $100 million insurance policy.
Ledn has been actively lending to Canadian bitcoin investors and companies from coast to coast since it launched in August 2018. "The best evidence that Canadians are benefiting from using our service is that they are using it once and coming back to increase their loan size." said Adam Reeds, Co-Founder & CEO of Ledn. "We expect this to continue as bitcoin sentiment and market activity turn more positive, rewarding investors with a long-term view."
In addition to its growing Canadian operations, the company announced plans to expand its services into Latin America, a market and use-case that it understands intimately.
"Our service makes financial sense for Canadians, but for people in countries with high inflation and political uncertainty, our services help solve a basic necessity." said Mauricio Di Bartolomeo, Ledn's Co-Founder & Chief Strategy Officer, "In environments like Argentina or Venezuela, where I am originally from, bitcoin has become a beacon in investment portfolios - and adoption will only grow as people use bitcoin to access better credit and savings services than those available at their local banks."
In preparation for Latin America expansion, the company has staffed its team with native Spanish speaking professionals from Venezuela, Colombia, Panama, Cuba, El Salvador, and Brazil.
"Since we launched our custody solution in fall of 2018, we've seen great demand from all types of market participants. We are pleased to welcome Ledn and its clients to BitGo, as we continue to bring BitGo's best-in-class custody services to new markets." said Josh Schwartz, Vice President of Sales, BitGo.
To learn more visit ledn.io! Ahora también en Español!
About Ledn:
Ledn provides credit and savings products that help people save in bitcoin. Its first product, bitcoin-backed loans, offers the best rates and simplest application process on the market and is designed to help investors 'hodl' their bitcoin. Applying for a Ledn loan is easy, does not affect your credit score and requires only bitcoin as collateral. Bitcoin is held securely in BitGo Trust Company's insured facility throughout the loan, and borrowers retain all benefits from any appreciation in the value of their asset. Additionally, the bitcoin collateral is never commingled with other assets and provides real-time proof-of-reserves - the ability to check that the asset has not been moved from its vault.
About BitGo:
BitGo is the leader in institutional cryptocurrency financial services, providing clients with security, compliance, and custodial solutions. BitGo is the world's largest processor of on-chain bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies. The company supports over 100 coins and tokens, and has over $2 billion in assets. BitGo's customer base includes the world's largest cryptocurrency exchanges and spans more than 50 countries. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo is backed by Craft Ventures, DCG, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.
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SOURCE Ledn Inc.
