Bitcoin Daily: Ledn Debuts Bitcoin Mortgage Platform; Arculus Partners With Bitcoin 2022 to Provide Crypto Security Cards

Ledn, a crypto lending firm, has pulled in $70 million in fundraising, according to a press release.

The company is now valued at $540 million.

“Since inception, Ledn has processed over $450 million in loan originations, with 90% of those originations occurring during 2021,” Ledn Co-founder Mauricio Di Bartolomeo told The Block.

The release notes that the company has rolled out a bitcoin-backed mortgage product, to let users buy a home with their bitcoin holdings.

Ledn Co-founder Adam Reeds said the idea was spurred by the fact that many people who hold a lot of bitcoin wealth still can’t make use of their assets to qualify for a mortgage loan.

“That is why we are launching this product, in order to provide access to key financial products for those who choose to invest outside the mainstream of legacy banks,” he said.

The release notes that some of the important Ledn products are an interest-bearing savings account for bitcoin and USDC, bitcoin and USD loans, and a trading function.

Arculus Key Card Addresses Authentication

Meanwhile, crypto safety company Arculus has partnered with the Bitcoin 2022 event to offer a new crypto security card with numerous authentication needs, per a press release.

The Arculus Key Card and WalletTM app work with a 3-factor authentication solution for buying, sending and receiving crypto.

“Crypto is going mainstream and Bitcoin 2022 attendees, among the savviest crypto market participants, will lead the way to secure their crypto,” said Adam Lowe, chief innovation officer at Arculus. “As more people buy cryptocurrencies, hacks are expected to continue to rise, and Arculus, which literally means “strong box”, is positioned to become the new standard in securing an individual’s digital assets.”

The release says the card works through several factors of authentication, including a user’s biometrics, a chosen 6-digit PIN, and tapping one’s phone to prove their identity.

The release says the Bitcoin 2022 Arculus Key Card will be distributed at the Miami Beach event in April 2022.