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Crypto Lending Firm Ledn Raises $30M From Alan Howard, Coinbase and More
Kingsway Capital, Coinbase Ventures, Susquehanna and other investors also participated in the Series A round.
Updated May 9, 2023, 3:19 a.m. Published May 26, 2021, 1:33 p.m.
Canada-based cryptocurrency lending platform Ledn has raised US$30 million in Series A financing with hedge-fund billionaire Alan Howard joining the ranks of participating investors.
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- Led by Kingsway Capital, Coinbase Ventures, Susquehanna, ParaFi, Alexis Ohanian, John Pfeffer, CMT Digital, Global Founders Capital and others also joined the round.
- The raise comes hot on the heels of the firm's second seed round for $2.7 million in February 2021.
- The cash injection will be put to use growing the team, expanding the firm's global presence and building out its platform and products, according to an emailed announcement on Wednesday.
- “With this new injection of capital, we will expand on our success in North and South America and grow our global footprint, prioritizing growth markets," said Adam Reeds, Ledn co-founder and CEO.
- Ledn provides interest-bearing crypto savings accounts and bitcoin-backed loans. It also recently added a service allowing users to quickly exchange between the USDC stablecoin and bitcoin.
- After its products proved popular in South America, Ledn said in February that it plans to focus on the African market.
Read more: DeFi More Disruptive to Banks Than Bitcoin, Says ING
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French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Lo que debes saber:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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