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Lock BTC, Get DAI: Lending Firm Br Oct 29, 2019 at 13:00 UTCю Lock BTC, Get DAI: Lending Firm Br

Lock BTC, Get DAI: Lending Firm Br Oct 29, 2019 at 13:00 UTCю Lock BTC, Get DAI: Lending Firm Br

Leigh Cuen

Lock BTC, Get DAI: Lending Firm Br

Canadian startup Ledn, that offers bitcoin-backed fiat loans, now offers dollar-pegged DAI loans, linking bitcoin users with ethereum’s decentralized finance (DeFi) ecosystem.

Ledn co-founder Mauricio Di Bartolomeo, A venezuelan expat, told CoinDesk this brand new partnership with stablecoin promoter MakerDAO ended up being driven by client need.

Away from “thousands” of users, over fifty percent of Ledn’s users are in Latin America, Di Bartolomeo stated, where ethereum-backed DAI is increasingly viewed as an alternate to strictly regulated dollar transfers. The central bank of Argentina restricted civilians to buying only $200 in USD per month, down from the previous $10,000 in fact, this past weekend. (altro…)