TORONTO, Oct. 15, 2019 /PRNewswire/ – Ledn Inc. (“Ledn”) is pleased to announce the first closing of a debt financing to finance Ledn’s growing portfolio of bitcoin-backed financial products with Arctos Capital, LLC (“Arctos”) and Colchis Capital Management, LP (“Colchis”).
Ledn builds financial products with a mission to help more people save in bitcoin. With a simple and secure technology platform, Ledn provides optionality for its growing customer base looking to do more with their bitcoin.
“Ledn was built on the vision of connecting institutional capital with the bitcoin community in order to offer financial products with transparent, fixed rates and flexible terms. The debt financing with Arctos and Colchis solidifies that mission.” – Adam Reeds, Co-Founder & CEO
“Bringing together decades of experience in financing alternative assets, Arctos finds unique opportunities to deploy capital in the growing digital asset space. This financing allows Arctos to deploy large amount of capital to support Ledn in its mission to deliver low-friction products to its customers globally.” – Trevor Smyth, Managing Partner
Launch of Ledn’s B2X Product
In line with its mission to offer innovative financial alternatives to bitcoin holders, Ledn’s B2X product allows clients to instantly increase their bitcoin holdings in one simple step. Many customers use Ledn loan products to get more liquidity and buy additional bitcoin. The B2X product cuts to the end result, and doubles the amount of bitcoin the user holds, through an instant loan approval and bitcoin purchase.
“Our clients have asked and we have delivered. We are thrilled to roll more tool to help our customers make the most of their bitcoin. We look forward to rolling-out B2X in Canada, followed by select countries in Latin America and soon, globally.” – Mauricio Di Bartolomeo, Co-Founder & CSO
Ledn builds financial products with a mission to help more people save in bitcoin. Ledn’s suite of products consists of Borrow – a bitcoin-backed loan which allows customers to access fiat without selling their bitcoin, Save – a bitcoin savings account that pays interest on bitcoin held in the account, in bitcoin with no minimums or maximums, and now B2X – allowing clients to instantly double their bitcoin holdings through the use of Ledn loan. For more information visit ledn.io.
Arctos Capital, LLC
Arctos Capital, LLC is the general partner of the Arctos Capital Cryptoasset Credit Fund, LP, a private investment partnership actively investing in blockchain-related credit products. Arctos Capital funds loans backed by crypto-related assets and extends credit to leading lending platforms leveraging blockchain and cryptocurrencies in their businesses. Arctos Capital’s managing partners have spent a combined 30+ years in financial services, particularly in leasing and secured lending, and have extensive experience in blockchain technology and cryptocurrencies. For more information visit arctos.capital.
Colchis Capital Management, LP
Colchis Capital Management, L.P., based in San Francisco, CA, is a specialist investment firm that leverages operational excellence, data, analytics, and technology to acquire private, income-oriented assets. Together with its affiliates, Colchis has been successful since 2005 in identifying investment themes catalyzed by market dislocations and has proven capabilities in private credit, real estate, venture capital, and securitized assets. For more information visit colchiscapital.com.
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SOURCE Ledn Inc.