Ledn, the cryptocurrency lending and savings company, announced the launch of a new product, this time for savers who prefer to keep their money in a parity token or a stable coin. TO From now on, interested parties can keep their savings in USD Coin (USDC), the stable coin from Coinbase and Circle.
The information was released this Thursday May 14th. To achieve this new product, the Canadian-born company signed a collaboration agreement with Genesis Capital. CoinTelegraph en Español turned to the company’s co-founder, Mauricio Di Bartolomeo, for more information on the project.
Di Bartolomeo stated exclusively that they chose USDC for various reasons. “”First and foremost, we like your integrity and transparency. Each USDC is covered 1: 1 for one dollar – and USDCs are issued by licensed financial institutions that have full reserves and are audited quarterly by an independent company“”
They also have an agreement with Solidus, an OTC trading company, to meet the potential USDC demand. All users have to do is provide an email address, a mobile phone number and their ID. Users can open their savings account in USDC or Bitcoin with Ledn “in less than 2 minutes”.after Di Bartolomeo.
The main reason for the development of this new product is that Ledn has received a significant number of new registrations in Latin America, particularly due to the devaluation of several local currencies in the region.
“The Argentine currency has lost 33% of its value in the past 60 days, Mexico and Brazil 20%, Colombia 10%, and we have had many requests to offer savings options in stable currencies. Let us believe that the downward pressure on the Latin American currencies and the world in terms of the value of the USD will continueDi Bartolomeo explained.
Users of these account types generate 7.5% interest thanks to the Genesis credit institution, which has processed digital asset loans in excess of $ 3.1 billion.
“There are two benefits that are critical to your savings: protecting your savings from inflation in your local currency and By working strategically with Genesis, working with the most established institution in the digital asset credit industry, you can achieve a 7.5% stake“He pointed out.
Ledn’s products focus on Bitcoin, according to Di Bartolomeo, but the USDC wants to be more practical and help customers move their money with ease due to volatility. “and give them flexibility in new transactions or adjustments to their portfolio“”