Co-founders Adam and Mauricio explain why they started Ledn

When Adam & Mauricio teamed up to start Ledn, they began with the intention of solving their own problem. They had a Bitcoin mine that needed capital to grow and were up against a roadblock: traditional financial institutions weren’t comfortable lending to them given they didn’t recognize Bitcoin as an asset. It dawned on them; Bitcoin and digital asset holders should be able to experience the wealth of their assets in the exact same way as people that own real estate, gold, or any other asset. Enter Ledn; a global financial services company built for digital assets. Founded with the ambition of helping other Bitcoin miners gain the access to capital that Adam & Mauricio themselves craved, Ledn quickly grew into a force that went far beyond Bitcoin mining in its home country of Canada. With digital assets being accessible to everyone, it aspired to enable the growth of generational wealth for many around the world. So how did a company founded to solve a very specific problem grow into one of the world’s leading digital asset lenders, driving access to financial services globally? Read on.

For Mauricio, growing up in Venezuela offered no shortage of eye opening examples of why the world needs Bitcoin. The country was experiencing a socioeconomic and political crisis in which hyperinflation limited people's ability to transact and protect their wealth. Never having had experience with Bitcoin previously, his light bulb moment occurred after meeting with his younger brother who had himself discovered mining the digital asset. Although skeptical of Bitcoin’s promise at first, Mauricio challenged his brother to show him how easily Bitcoin could be used. Within an hour, $200 was transferred from his brother to Mauricio’s local bank account in Venezuela. He instantly saw how Bitcoin could transact in a hostile environment and immediately understood the use case. In an environment where buying Dollars and stockpiling non-perishables was illegal, Bitcoin presented a clear solution.

This promise extends far beyond Venezuela. In a world where 87 percent of its population is born with no access to democracy or stable currency, there is little hope for fair banking due to government-controlled currencies subject to hyper inflation. What if 87 percent of the world wasn’t prevented from entering the global financial system? What if they could protect and grow their wealth by converting it into a censorship-resistant currency? What if they were given fair access to financial services like the 13 percent?

During business school, it became evident to Adam when he first met Mauricio that the concept of “wealth” and how easily it can be built & accessed is very different depending on where you live in the world. They realized that wealth is more than just a concept or number in a bank account. Its true value lies in how it can make our lives better, whether it’s enabling the purchase of a first car, hiring of a second employee, paying for tuition, or owning a place your family can finally call home. This realization laid the foundation for a business idea that was bigger than Bitcoin mining in Canada. Adam and Mauricio founded Ledn with the belief that Bitcoin holders should experience the wealth of their digital assets in exactly the same way as everybody else, no matter where they are in the world.

Inspired by their own mining business, they began with Canada’s first Bitcoin-backed loan in 2018. The product offered the same level of service, speed and rates for all clients no matter where they lived, which is a model that is unheard of in traditional finance. In 2020 Ledn became the first lender ever to undergo a Proof-of-Reserves attestation with a certified public accountant - setting an industry standard. The lending innovation continued, and in December 2021, Ledn offered the world’s first Bitcoin-backed mortgage. The company’s proposition was clear: we lend so you can hold onto your digital assets. We’re Ledn so you can Hodl.

What started as a passion project with a few close colleagues has grown to a global company with 100+ employees, offering a full suite of lending, savings and trading products in over 150 countries. Ledn strives to improve the everyday lives of Bitcoin holders today while building generational wealth for the future. Through its products & services, Ledn makes a difference in the lives and futures of its clients - in real terms.

Last week, Ledn celebrated its fourth anniversary. Adam & Mauricio’s founding story lays the foundation for the company’s purpose that every team member at Ledn, many of which have lived Bitcoin’s promise themselves, feels everyday. Over time, each team members’ conviction does nothing but grow. We won’t stop until Ledn has made financial services more accessible to people who need it around the world.

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