Did you know that if you are a holder of digital assets, you can take a loan out against those tokens? Ledn is a company that offers this service. I met with Mauricio Di Bartolomeo, Co-Founder and CSO of Ledn for a dynamic conversation about how this works.
More about the company from CoinDesk:
Cryptocurrency lending company Ledn is offering customers crypto-backed loans where all the assets remain locked up with a qualified custodian, as the company adapts its centralized finance approach to a post-FTX world.
Ledn has done a brisk trade in standard loans to date, where bitcoin (BTC) posted as collateral can be further lent out to subsidize the loan. The firm has processed some $635 million of retail loans backed by Bitcoin, and over $4 billion on the institutional side.
“The collateral must be held in custody, and that will always be a qualified custodian, whether that is with BitGo, or one of our banking or credit fund partners,” said Ledn co-founder Mauricio Di Bartolomeo in an interview. “This is the first time this type of loan, which is done through a centralized entity that can offer 24 hour disbursements, is being offered outside the U.S. to international customers.”
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