Bitcoin News and Finance Crypto Savings Platform Ledn Raises $30 Million in Latest Funding Round Skip to main content

Crypto Savings Platform Ledn Raises $30 Million in Latest Funding Round

Crypto Savings Platform Ledn Raises $30 Million in Latest Funding Round

Ledn, a cryptocurrency lending and savings platform based in Canada, has managed to raise $30 million in its latest funding round. The money raised will be used to expand its offer of lending products, and to expand its reach in more countries. Ledn could take advantage of the recent problems that Blockfi, one of its contenders, is facing now to increase its share in the sector.

Ledn Raises $30 Million in Latest Funding

Ledn, a Canada-based cryptocurrency lending platform managed to raise $30 million in its Series A funding round, a more than tenfold increase from its first funding round. The round was led by Kingsway Capital, a London-based investment firm with a focus on digital assets and mobile internet investments.

The round also had participation from other investors: Alan Howard, Hashed, Susquehanna Private Equity Investments LLLP, ParaFi Capital, Alexis Ohanian, and John Pfeffer. According to the press release statement, all of the first backers of the company also chipped in. This is the second successful funding round that Ledn has hosted, with the first one raising $2.7 million last February. Since then, the company has grown enormously with the Bitcoin bull market.

Ledn’s CEO, Adam Reeds, stated that its priority is to occupy markets with big growth potential. Reeds stated:

With this new injection of capital, we will expand on our success in North & South America and grow our global footprint, prioritizing growth markets. Our focus is to build simple and secure solutions that allow clients to participate in the growing digital asset economy in a way that meets their individual needs and our own rigorous standard for security and reliability.

Mauricio Di Bartolomeo, who is Ledn’s CSO, stated the importance of Ledn’s proposal for emerging markets like Venezuela, where he grew up. Di Bartolomeo declared:

Growing up in Venezuela, I saw firsthand how an unregulated system with little to no transparency can impact its people, and that’s why it’s such a core component of how we manage the funds our clients entrust to us.

Ledn’s Focus Markets

The focus that Ledn’s has on emerging markets separates them from most of their competitors. Its focus is to carry these financial opportunities to the unbanked, to onboard them to a new system. This is why Kingsway Capital has put its trust behind Ledn. Manuel Stotz, the founder of Kingsway Capital, declared:

Having spent nearly a decade investing in emerging and frontier markets, we’ve had first-hand experience witnessing the power of disruptive technologies delivered to billions of consumers coming online for the very first time.

The chance of bringing bitcoin (BTC) and stablecoins to these new markets via an established platform is a big opportunity for investors. And with this money influx, Ledn could have the manpower to take on the big players in the business, like Blockfi, which has faced some issues after a series of mistakes that have eroded the trust some customers had in the platform.

What do you think of Ledn’s last funding round? Tell us in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory