Hoseki Partners With Ledn For Proof-Of-Asset Service In Bitcoin-Backed Loans

The world's first Bitcoin-native asset attestation service Hoseki has announced a pre-launch partnership with Ledn.

Bishal Kumar Chanda3 min read
Hoseki Partners With Ledn For Proof-Of-Asset Service In Bitcoin-Backed Loans

The world's first Bitcoin-native asset attestation service Hoseki has announced a pre-launch partnership with Ledn, the Canada-based crypto lending platform. Hoseki aims to provide lending and proof-of-assets services for retail investors through the partnership, similar to proof-of-reserves leveraged by custodians.

Hoseki seeks to build a framework to provide digital asset attestation services to Bitcoin investors. Also, by collecting information from funds at different exchanges and self-custody wallets, Hoseki will generate asset ownership documents on demand.

Hoseki and Ledn partnership

Reportedly, Hoseki users can seamlessly submit their standardized proof-of-asset documentation to Ledn through Hoseki's mobile app or desktop website. Furthermore, a lender's tab will be in the Hoseki dashboard, displaying Ledn's information. This will educate prospective borrowers on the first steps for taking Bitcoin-backed loans from Ledn.

According to Hoseki CEO Sam Abbassi, as the bitcoin economy continues to grow and mature, Hoseki's proof-of-asset documentation will be crucial for borrowers to work with platforms like Ledn.

We can say that Hoseki is providing a layer of institutional-grade tooling for personal wallets. As Abbassi points out, the idea is to place a simple wrapper around Bitcoin's natively enforced property rights.

Meanwhile, Hoseki plans to launch a private alpha version of the product with Ledn integration to select users this summer. Reportedly, its public launch is scheduled for the third quarter of 2022. If you are interested in testing the Hoseki alpha product, you can visit the Hoseki app for early access.

Hoseki app user interface.

Currently, Ledn is testing its Bitcoin mortgage product, which Abbassi sees as a "low-hanging fruit." Talking about the mortgage use case, Abbassi added that it's a real problem that people go through. In fact, it was something that he and many of his friends went through personally. Therefore, they decided it to be the "most palpable thing" to launch with.

"We're thrilled to collaborate with the Hoseki team as they build a crucial piece of financial infrastructure for the bitcoin economy," Ledn CEO Adam Reeds stated.

About Ledn

Founded in 2018, Ledn provides financial solutions to enable clients across the globe to build wealth with digital assets. With registered clients from over 127 countries, offering Bitcoin interest accounts and Bitcoin-backed loans.

In December 2021, Ledn attained a $540 million valuation after raising $70 million in a Series B funding round. Soon after, Ledn announced a bitcoin-backed mortgage product, gathering over $2 billion worth of interest since its launch.

About Hoseki

Hoseki provides financial services for the Bitcoin-native economy, allowing investors to verify and use their holdings in various new ways. Furthermore, Hoseki aims to empower Bitcoin holders with a standardized proof-of-funds service, making the Bitcoin economy larger and more active.

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