In May, we announced that Ledn had received regulatory approval as a Virtual Asset Service Provider (VASP) from the Cayman Islands Monetary Authority (CIMA). This has opened up new opportunities for us to expand into a global digital financial services hub. Now, to further grow our reach and flexibility, we’ll be moving our headquarters to the Cayman Islands for all future operations.
This is a key step for Ledn as we work towards offering clients across the globe our full array of services. These include our Bitcoin-backed loans, Dual Cryptocurrency Notes (DCN), B2X loans, as well as Ledn’s flagship Growth Account, which currently earns 8.5% APY on USD Coin (USDC) and 1% APY on Bitcoin.
Under this new regulatory framework, Ledn will be able to innovate and offer brand-new services to clients in all regulatory-compatible jurisdictions. In the coming months, Ledn will begin offering a USDT Growth account and USDT trades.
“We’re taking this decision very seriously because we want to offer our clients the most robust services possible,” said Adam Reeds, founder and CEO of Ledn.” Our goal has always been to expand and innovate under a compliant regulatory framework. Thanks to this move, that goal is now possible.”
Ledn was founded in Toronto, Ontario, and Canada still holds a great deal of sentimentality to the company. Ledn will continue to offer services, such as Bitcoin-backed loans, in certain Canadian provinces.
“While this decision was undoubtedly a difficult one, our foremost commitment is to prioritize the well-being of our company and clients,” said Mauricio Di Bartolomeo, founder & CSO of Ledn. “This move makes the most sense from a business perspective and will allow us to remain flexible while ensuring compliance and protection for our clients.”
By moving to the Cayman Islands, Ledn stands to expand into a truly competitive global company that can bring the benefits of digital assets and financial services to a much larger client base. This will help fuel the growth of our mission for a more equitable future, with robust economic products available to virtually everyone.
If you have any questions, please contact support@ledn.io
