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Hoseki partners with Ledn to improve its Bitcoin-backed loans

Updated: Aug 31, 2024
Published: May 2, 2022
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Bitcoin startup Hoseki has announced a partnership with financial services provider Ledn to provide lending and proof-of-assets services to retail investors.

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Hoseki partners with Ledn

Hoseki wants to offer digital asset attestation services to Bitcoin investors via a software program that can gather information from funds held at multiple Bitcoin exchanges and self-custody wallets to produce asset ownership verification. A lenders tab in the Hoseki app will educate prospective borrowers on how to confirm asset ownership and initiate a Bitcoin-backed loan through Ledn as part of the partnership.
"The Ledn team built a world-class financial services firm for the bitcoin economy. Our entire team is excited to name them as our first lending integration for building bitcoin-native financial plumbing," said Sam Abbassi, CEO of Hoseki
Hoseki has said that its alpha product will be released later this month. According to the statement, traditional financial service providers asked the startups to use its asset ownership documents, indicating that the cooperation with Ledn is one of several.

What is Ledn?

Ledn provides clients with interest-bearing savings accounts and Bitcoin-backed loans, allowing them to access dollars or additional Bitcoin without selling their existing holdings. The company was recently valued at $540 million after raising $70 million in a Series B funding round in December.

The Bitcoin lending company launched a Bitcoin-backed mortgage product following its investment round. Ledn clients can purchase real estate and use an equal amount of Bitcoin and property collateral as mortgage collateral. The company claims it has generated over $2 billion in interest since its inception.

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