Hoseki partners with Ledn
Hoseki wants to offer digital asset attestation services to bitcoin investors through software capable of collecting information from funds held on multiple bitcoin exchanges and self-custody wallets to produce verification of asset ownership. A lenders tab in the Hoseki app will walk potential borrowers through confirming asset ownership and initiating a Bitcoin-backed loan through Ledn under the partnership.
“The Ledn team has built a world-class financial services company for the bitcoin economy. Our entire team is thrilled to name them as our first lending integration for building bitcoin-native financial plumbing,” said Sam Abbassi, CEO of Hoseki.
Hoseki said his alpha product will be released later this month. According to the statement, traditional financial service providers have asked startups to use their asset ownership documents, indicating that the cooperation with Ledn is one of many.
What is Ledn?
Ledn provides its customers with interest-bearing savings accounts and Bitcoin-backed loans, allowing them to access additional dollars or Bitcoins 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 customers can buy real estate and use an equal amount of Bitcoin and real estate collateral as mortgage security. The company claims to have generated more than $2 billion in interest since its inception.