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Ledn is raising interest rates on its savings accounts in USDC

June 19, 2020

Ledn, a crypto lending and credit company, made headlines last month when it announced its savings accounts on Coinbase USDC Stablecoin. At launch, it was announced that savings accounts had an annual return of 7.5%, however With Ledn’s new announcement, the accounts will now show an annual interest rate of 8.8%.

Ledn, a Canada-based company, offers this profitability thanks to its alliance with Genesis Capital, a traditional credit company. They also have an agreement with Solidus, an OTC exchange, to receive the USDC that they generally offer to users.

For more information on this announcement, Cointelegraph was able to speak in Spanish to Ledn’s co-founder and CSO, Mauricio Di Bartolomeo, who first mentioned to us that this rate hike This is in turn due to increased institutional demand for USDC, which has prompted these institutions to pay higher interest rates on their acquisition. Di Bartolomeo believes that Ledn can offer the industry’s most competitive tariffs.

Ledn is raising interest rates on its savings accounts in USDCLedn is raising interest rates on its savings accounts in USDC

Di Bartolomeo also recalled that USDC savings accounts are available across Latin America. Explain that All account opening processes are translated into Spanish and customer service is offered in Spanish.

To open a savings account in Ledn, users have the option to use Bitcoin or USDC. In addition to the USDC savings account rate mentioned Accounts opened at Bitcoin have an annual return of 4.1%. Di Bartolomeo reported that opening an account of this type is a “simple” process and that only users are asked for an email, their identification and an active phone number.