Ledn Raises $70 Million, Announces Bitcoin-Backed Mortgage Product Today

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Bitcoin lending platform Ledn has raised $70 million in a Series B financing round that leads the platform into a $540 million valuation, the company said in a statement Wednesday.

The round was led by 10T Holdings, a growth equity firm focused on cryptocurrency companies. Existing venture investors also joined in the round, including London-based Kingsway Capital, Coinbase Ventures, billionaire hedge fund manager Alan Howard, John Pfeffer, and CMT Digital.

Ledn also announced its new bitcoin-backed mortgage product, a pioneering offering that lets customers use their bitcoin holdings to purchase real estate, allowing them to acquire a property while benefiting from Bitcoin’s price appreciation.

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