Digital asset saving platform Ledn raises USD 2.7 million

Other participants of the funding round were Coinbase Ventures, Global Founders Capital, CMT Digital, Kingsway, and Darrow Holdings. The company issued a Bitcoin-backed loan in 2018, and its suite of savings and credit options now serves customers in over 100 countries.

Ledn will use the proceeds of the raise to accelerate its growth. The company wants to offer transparency and comply with accountability standards for the digital asset lending industry by undergoing a formal proof-of-reserves attestation by an independent accounting firm. Ledn will use Armanino's TrustExplorer platform to allow Ledn customers to participate in verifying their inclusion in the Proof of Reserves, while preserving client privacy.