The Bitcoin Ledn lending platform has announced the completion of a $ 30 million Series A funding round.

The Bitcoin Ledn lending platform has announced the completion of a $ 30 million Series A funding round.

The platform allows users to open interest-bearing bitcoin savings accounts and take out bitcoin-backed loans, giving them access to fiat without having to sell their BTC. It also offers services based on other digital assets, such as USDC.

This round was led by London-based hedge fund Kingsway Capital, with participation from Hashed Venture Fund, Susquehanna Private Equity Investments, ParaFi Capital, billionaire hedge fund manager Alan Howard, John Pfeffer and Reddit co-founder Alexis Ohanian. All investors from Ledn’s previous funding round, including Coinbase Ventures and CMT Digital, also participated.

“Ledn has increased its assets on its platform by more than 320% since its last round, just six months ago,” according to a statement sent to Bitcoin Magazine. “The proceeds from the tour will be used to grow Ledn’s team and global presence, as well as to continue to improve Ledn’s technology and product offerings. Additionally, Ledn’s investors bring regional expertise that will enable Ledn to achieve its mission of unleashing the power of Bitcoin and other digital assets to build wealth through innovative financial products.

Co-founder Mauricio Di Bartolomeo added that the company wants to expand its success in North and South America, in addition to expanding its global presence.

“We put the needs of the people we serve first, investing in solutions such as proof of reservations to protect them,” he said, according to the statement. “Growing up in Venezuela, I saw with my own eyes how an unregulated system with little or no transparency can impact its people, and that’s why this is a critical part of the way we manage the funds that our clients entrust to us. “

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