Crypto Lender LEDN goes to full Bitcoin Maxi because they aim to reduce client asset risk
Cryptocurrency Lender LEDN has removed support for Ether
And it will start to offer a Bitcoin loan model starting on July 1 as its product seems to be simplifying and sharpening its focus around Bitcoin.
The company registered by the Cayman Islands may attempt to expand its appeal to the corners of the crypto community saying that BTC is the only cryptocurrency needed. Such BTC advocates are often referred to as “Bitcoin Maxis.”
“With our new hyper-focus on Bitcoin-only lending, we will return to our roots and principles that have been inspired by Bitcoin to start,” co-founder Adam Reeds said in an email announcement Friday.
Ledn will also stop lending client assets to produce produce as it aims to eliminate risk from its business model. Bitcoin offered to Ledn as collateral for loans remain in full care or its partners, Ledn said.
“Traditional finances rely on the ongoing reuse of client assets to create action and, ultimately, inflation,” Reeds said. “Bitcoiners naturally reject that model.”
Cryptocurrency lending was a major winter casualty of Crypto in 2022, along with companies including Blockfi, Voyager, Celsius and Genesis going to the wall.
Ledn has been able to live and are now trying to Re -live the BTC lending sectorAlong with the simplified product offer and aids of more friendly crypto regulations in the US, co-founder Mauricio Di Bartolomeo told CoinDesk in a recent interview.
