Digital asset savings and credit platform Ledn has scored $2.7m in fresh funding to support its growth.
White Star Capital led the round with its Digital Asset Fund. Other contributions came from Coinbase Ventures, Global Founders Capital, CMT Digital, Kingsway and Darrow Holdings.
Funds will be used to further its growth and enhance its transparency.
Ledn claims it issued Canada’s first bitcoin-backed loan in 2018. Since then, its services has grown to support thousands of clients in more than 100 countries.
The company enables consumers to borrow bitcoin-backed loans which enable them to access dollars without needing to sell their cryptocurrency.
It claims clients can access the highest interest rates in the digital lending space, with 6.1% for bitcoin and 12.25% for USDC.
Ledn co-founder and CEO Adam Reeds said, “Over the past three years, we’ve focused on building a simple and secure platform that allows clients to grow their digital wealth through savings and credit products.
“As we expand on our product offering with no fee trading rolling out in the next several months and go deeper into new markets, we couldn’t be more excited to work with this select group of top venture investors that believe in our mission.”
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