Source: News Bitcoin —
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.
The company says it has registered clients in over 127 countries, and 44% of its loan clients are in Latin America. “Ledn’s USD loan originations have increased by more than 25x and assets on platform have exceeded $1.7 billion — representing a 4,000% increase from Q3 2020. In the same period, its registered user base has grown nearly 10x,” the announcement notes.
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