Waivly

Share this post
Bitcoin-Backed mortgages are coming to the US and Canada
www.waivly.com
Crypto

Bitcoin-Backed mortgages are coming to the US and Canada

Ledn raises $70M in Series B round

Dec 17, 2021
Comment
Share
Crypto Lending Firm Ledn Raises $30M From Alan Howard, Coinbase and More -  CoinDesk
Ledn

This week Crypto lending firm Ledn raised $70 million in funding and announced a new bitcoin-backed mortgage product.

⠀

The round was led by Dan Tapiero's 10T Holdings, along with Golden Tree Asset Management, Raptor Group, and FJ Labs, and all previous investors.

⠀

Ledn will use the funding to launch a new bitcoin-backed mortgage product, which will allow clients to borrow to buy a home with an equal amount of bitcoin and property collateral as part of the mortgage loan.

⠀

"Most people that hold extensive wealth in bitcoin still can't utilize their assets to qualify for a mortgage at a bank," said Adam Reeds, co-founder, and CEO of Ledn. "That is why we are launching this product, in order to provide access to key financial products for those who choose to invest outside the mainstream of legacy banks."

⠀

The Bitcoin Mortgage product is currently in pilot mode and is expected to be made more available in the US and Canada in early 2022. Ledn says there is currently a waitlist for the product, and by the end of Q1 2022, the firm is targeting over $100 million in bitcoin-backed mortgage originations.

⠀

For more from us at Waivly, join our free fun-to-read and to-the-point newsletter enjoyed by hundreds of people across the internet every day of the week 👇

CommentComment
ShareShare

Create your profile

0 subscriptions will be displayed on your profile (edit)

Skip for now

Only paid subscribers can comment on this post

Already a paid subscriber? Sign in

Check your email

For your security, we need to re-authenticate you.

Click the link we sent to , or click here to sign in.

TopNewCommunity

No posts

Ready for more?

© 2022 Waivly
Privacy ∙ Terms ∙ Collection notice
Publish on Substack Get the app
Substack is the home for great writing