About Ledn

Ledn is a global financial services company dedicated to providing secure, transparent, and efficient digital asset-based solutions. Our mission is to help clients build long-term wealth by offering a suite of innovative products, including interest-earning accounts, loans, and trading services. Operating in over 127 countries, Ledn continues to expand its reach, ensuring clients can access reliable financial products wherever they are.

Why Choose Ledn?
Ledn’s dedication to simplicity and transparency fosters trust, empowering clients to manage assets confidently with straightforward products. Ledn is proud to be the first digital asset lending company to complete a Proof-of-Reserves attestation, underscoring its commitment to transparency. Additionally, Ledn Cayman SEZC Inc. is a registered Virtual Asset Service Provider under the Cayman Islands Monetary Authority. 

Stay informed about our latest updates by visiting our blog or following us on Twitter, Instagram, and Facebook.

Ledn provides a diverse suite of products designed to help you manage and grow your digital assets:

• Transaction Accounts: Primarily held in cold storage, this non-interest-bearing account enables you to deposit and withdraw BTC, USDC, and USDT. Use your Transaction Account to transfer assets, manage your loans by maintaining funds for manual or Auto Top-Ups, or access the Ledn Trade feature to seamlessly trade between BTC and USDC.
• Growth Accounts: Earn interest on USDC and USDT. Enjoy flexible methods to grow your digital assets. 
• Dual Cryptocurrency Notes (DCNs): Fixed-term interest products that allow you to set target prices for future BTC or USD transactions.
• Ledn Trade: Seamlessly exchange between BTC and USDC on a secure platform.
• Ledn Transfer: Send BTC or USDC to other Ledn users quickly and without fees, using just an email or Ledn Handle.
• Ledn Loans
  • Dollar Loans: Borrow USD using your Bitcoin as collateral without selling your digital assets. Dollar Loans can also be funded in your local fiat currency or USDC.
  • B2X Loans: Instantly double your Bitcoin exposure by purchasing additional BTC using the value of your existing Bitcoin as collateral. 

Availability:

Services may vary by jurisdiction. You can check availability in your location by visiting our eligibility page here.

Ledn’s products are provided through several entities to meet regulatory and compliance requirements:

• Ledn Transaction Accounts, Ledn Trade, and Custodied Dollar Loans are managed by Ledn Cayman SEZC Inc., which is registered with the Cayman Islands Monetary Authority (CIMA) as a Virtual Asset Service Provider. This registration does not imply CIMA’s endorsement.
• Growth Accounts (USDC and USDT) are managed by separate entities (UC SA I Company and UT SA I Company, respectively), each organized under Cayman Islands law.
• Dual Cryptocurrency Notes (DCNs) are issued by Ledn Global PA Capital Inc., a company established under the laws of Panama.
• The Ledn platform, accessible at www.ledn.io, is operated by 21 Technologies Inc., established under the laws of the Cayman Islands.

Ledn products and services in Spain are offered by Ledn EEC, S.L., a company established under the laws of Spain. Ledn EEC, S.L. is a virtual asset service provider registered with the Bank of Spain.

Regulatory Compliance:

Ledn is committed to adhering to the regulatory requirements in all jurisdictions it serves, and our approach emphasizes transparency, security, and strict compliance, including Know-Your-Customer (KYC) and Anti-Money Laundering (AML) standards.

Ledn prioritizes the security of digital assets. We employ advanced security protocols and work with top-tier custodial partners to mitigate risks. Here’s how we safeguard those assets:

• Encryption & Security Layers: Our platform uses HTTPS, AES-256 encryption, and strict internal security policies across all levels.
• Account Security Features: Clients can enable Two-Factor Authentication (2FA), safelisting, and even confirmation video calls for withdrawals to enhance account security.
• Redundancy and Recovery: Ledn collaborates with custodial partners that implement multi-signature wallets and stringent access protocols to ensure asset continuity even in unexpected situations.

Learn More:
Explore more about our security practices in the Security Center.

Are My Digital Asset Balances Insured?

While Ledn implements rigorous protocols to protect client assets, it is important to note that digital assets held within the Ledn platform are not guaranteed by any entity and are not covered by government deposit insurance. 

How Does Ledn Safeguard My Digital Assets? 

There are several ways in which Ledn protects your Digital Assets. You can find them here. 

How Can I Further Protect My Account?

Ledn offers:

• Two-Factor Authentication (2FA): Adds an extra layer of protection to your account.
• Safelisting: Limits withdrawals to pre-approved wallet addresses to reduce unauthorized access risks.

A Proof-of-Reserves (PoR) attestation is a procedure whereby an independent public accountant confirms Ledn’s digital assets balances at a point in time, independent of Ledn’s management. The attestation conducted by The Network Firm LLP (TNF) ensures that the company’s assets and liabilities are properly accounted for. Clients can also independently verify their balances, fostering trust and confidence in Ledn’s operations.

How the Attestation Works:

• Review Process: TNF reviews Ledn’s digital asset balances, including lending operations and custodial balances to confirm everything is accurately accounted for. 
• Verification for Clients: Each client receives a unique, anonymized hashed ID that can be used to verify their balance on TNF’s LedgerLens platform.

How to Verify Your Balance:

1. Log In: Access your Ledn account and navigate to the Proof of Reserves section.
2. Copy Hashed Client ID: Securely copy your unique ID.
3. Visit LedgerLens: Use the "Confirm Assets" link to go to LedgerLens.
4. Verify: Paste your Hashed ID and check your balance’s inclusion.
5. Additional Verification: Locate your account’s information within the Merkle Tree on LedgerLens to confirm data integrity.

Privacy Assurance:
No personal information is shared during the attestation. TNF only receives hashed IDs, ensuring anonymity and data security.

Frequency:
PoR procedures are conducted at least every six months, with the most recent completed on March 31 st, 2025. Clients are notified when new reports are available.

Why Might Balances Differ?
The PoR report captures balances at a specific point in time. If transactions have occurred since the attestation, current balances may differ.

Learn More:
For more details, visit our Proof-of-Reserves Guide.

Engaging in digital asset transactions with Ledn involves certain risks. Below are key considerations to help you make informed decisions:

Market Volatility: The value of digital assets can be extremely volatile and unpredictable. You may experience significant loss in a short period of time.

Regulatory Uncertainty: The regulation of digital assets continues to evolve globally. Changes in local laws or policies may restrict the use of digital assets or otherwise impact their demand.

Fraud and Cyber-attacks: The digital asset ecosystem may carry increased risk of fraud or cyberattacks. Ledn implements strong security protocols, but these risks are inherent to the nature of digital assets.

No Insurance: Any digital assets held on the Ledn platform are not guaranteed by any government, and are not covered by any deposit insurance scheme or investor protection against losses anywhere in the world.

Loan Collateral Risk
If you’ve posted digital assets as collateral for a loan and the value of those assets decreases, you may be required to deposit additional collateral. If your loan goes into default, your collateral may be liquidated in part or in full to cover the balance, as outlined in your USD Loan Agreement.

For more information, refer to our Risk Disclosure Statement and the product-specific legal terms available on our website.

The Open Book Report is Ledn’s commitment to transparency. Published monthly, it details how digital assets are utilized, providing insights into how Ledn generates interest for Growth Accounts and offers competitive loan rates. Clients can understand the mechanics of asset management, fostering trust and informed decision-making.

Access the Report:

1. Log In: Visit your Ledn dashboard.
2. Select Open Book Report: Review the latest report for asset insights.
3. Download: Save the report for personal reference.

What has changed?

• Canadian clients with existing assets in a non-interest earning Transaction Account can only use such assets to manage their Dollar Loans. Otherwise, such assets must be withdrawn from the Ledn platform.
• Dollar Loans are no longer available to residents of QC, NB, NS, and SK. Dollar Loans (including the ability to renew or refinance an existing loan) continue to be available to Canadian clients who reside in other provinces.
• B2X Loans are no longer available to Canadian clients.
• The Trade function is no longer available to Canadian clients.

Our client success team is available to help you understand how to best manage your Ledn account going forward. You can reach out to them at support@ledn.io to get personalized support.

Why are the changes happening?

Since 2021, Ledn has been working collaboratively with Canadian regulators to determine a constructive regulatory pathway in Canada for Ledn’s business.

As a result of such discussions, Ledn has made the decision to wind-down its Savings Accounts (which are now Growth Accounts) and B2X Loans in Canada.

Ledn looks forward to reaching back out to Canadian clients when it is in a position to reintroduce additional products in Canada. 

How are Dollar Loans impacted?

There are no changes to the availability of Dollar Loans for Canadian clients, including the ability to take out a new loan or to renew or refinance an existing one, except for residents of QC, NB, NS, and SK.

There are some changes as to how you can manage your Dollar Loan going forward:

Managing your loan:

• Any existing digital assets you have in your Transaction Account can be used to top up your loan to avoid loan liquidation as a result of your loan reaching 80% LTV.
• Auto Top-up: auto top-ups continue to work as long as you have enough digital assets in your Transaction Account to top up the loan and reduce your LTV.

You are no longer able to add new digital assets into your Transaction Account. If you do not have a sufficient amount of existing digital assets in your Transaction Account, you must top up collateral for your loan by transferring digital assets on-chain from your external wallet directly to your loan collateral wallet. You can learn more about this process here.

Ledn is dedicated to helping clients understand digital assets and the services we offer. Our educational resources are crafted to empower you with knowledge, helping you make informed financial decisions as you navigate the digital asset space. Here are the primary resources available to clients:

• The Ledn Blog: Ledn’s blog features articles on various topics, from beginner guides to insights into our latest products and services. You can explore digital asset fundamentals, market updates, and Ledn-specific news, making it an ideal starting point for anyone wanting to learn more about the industry and Ledn’s offerings.
• Ledn’s YouTube Channel: Our YouTube channel hosts videos that provide in-depth explanations of Ledn’s products and services, along with tips on security and understanding market trends. This video content is helpful for those who prefer visual learning and want a deeper look into digital assets and how Ledn works.
• Because of Bitcoin Podcast: Available on both Spotify and Apple Podcasts, our podcast series explores the latest topics in digital assets, featuring interviews with industry experts and discussions on market trends. “Because of Bitcoin” offers insights that are accessible whether you’re on the go or at home, making it easy to stay informed.

What are the changes to loans in Spain as of April 1, 2025? Why are the changes happening?

As of April 1, 2025, Ledn will no longer offer new Standard loan originations in Spain. Ledn will continue to offer Custodied loans across Bitcoin-backed loans, ETH-backed loans and B2X loans.

This change is being made with the goal to better protect client assets by no longer rehypothecating loan collateral for loans originated in Spain.

What about my existing Standard Loan?

Upon a renewal or refinancing of an existing Standard loan on or after March 1, 2025, existing Standard loans will be renewed or refinanced as a Custodied loan with the interest rate applicable to Custodied loans at that time. Current loan rates can be found at https://platform.ledn.io/loans.

What’s changing for me as a Ledn client in the EU and when?

Specific Ledn products will be unavailable or modified in certain EU countries as of April 1, 2025.

Across the EU:

• Dual Cryptocurrency Notes will no longer be available. Existing DCNs taken before April 1, 2025, will run to maturity.
• USDC & USDT Growth accounts will no longer be available.  As of April 1, 2025, interest rates on these accounts will be 0%. We encourage clients to move these assets from their Growth accounts to their Transaction accounts. You will receive your final interest payout from these accounts as normal on April 1, 2025.
• In the following countries, Dollar Loans will only be available for non-personal purposes. Loans will not be available for personal, family or household purposes.
  • Austria
  • Belgium
  • Bulgaria
  • Croatia
  • Cyprus
  • Czech Republic
  • Denmark
  • Estonia
  • Finland
  • Greece
  • Hungary
  • Ireland
  • Latvia
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands
  • Portugal
  • Romania
  • Slovakia
  • Slovenia
  • Sweden

In France, Germany & Italy:

• New loan applications, including B2X, will no longer be available. 
• Existing loans in these countries can run to maturity but cannot be refinanced and will not automatically renew upon maturity after April 1, 2025. If your loan has not been repaid on the maturity date, your collateral will be sold to repay the loan and any remaining collateral will be returned to your Transaction account. We encourage clients to repay their loans before their maturity dates if they prefer not to have this treatment applied.
• BTC, ETH, USDC & USDT Growth accounts will no longer earn interest. As of April 1 2025, interest rates on these accounts will be 0%. We encourage clients to move these assets from their Growth accounts to their Transaction accounts. You will receive your final interest payout from these accounts as normal on April 1, 2025.
• Dual Cryptocurrency Notes will no longer be available. Existing DCNs taken before April 1, 2025, will run to maturity.

In Switzerland:

• New B2X loan applications will no longer be available.
• New loan applications for Bitcoin and ETH backed loans must be for at least $100K USD to be approved.
• BTC, ETH, USDC & USDT Growth accounts will no longer earn interest. As of April 1 2025, interest rates on these accounts will be 0%. We encourage clients to move these assets from their Growth accounts to their Transaction accounts. You will receive your final interest payout from these accounts as normal on April 1, 2025.
• Dual Cryptocurrency Notes will no longer be available. Existing DCNs taken before April 1, 2025, will run to maturity.

What qualifies as a non-personal loan purpose?

Ledn will no longer provide loans for personal, family or household purposes and will only provide loans for business or commercial purposes. This means that you intend to use the loan towards business or commercial expenses, such funding a business. Loan proceeds cannot be used for personal, family, or household expenses such as buying consumer goods for personal use.

Does Ledn have plans to re-instate these products in the future?

At this time, Ledn does not plan to reinstate the affected products in the future. We will notify you of any further changes to the available products in your jurisdiction.

Why are these changes happening?

Ledn is in the process of obtaining authorization as a crypto-asset service provider (CASP) under the EU’s Markets in Crypto-Assets (MiCA) regulation in order to continue to offer as many products and services as possible to our clients in the EU. Ledn is committed to adhering to all local laws and regulations in the markets we operate in, and this authorization will enable Ledn to provide longer-term clarity to our clients.

These changes are our first step towards this undertaking. We will continue to communicate with clients when we move further along the authorization process, including providing additional information on how these changes may impact your Ledn account.

What do I need to do?

We recommend two actions to impacted clients at this time:

• For clients who will no longer earn interest on their Growth accounts, please withdraw your assets to your Transaction accounts starting on April 1, 2025.
• For clients in Germany, France and Italy, you have the option to repay your loan at any point prior to the maturity date. After the maturity date, Ledn will close your loan by selling enough collateral to repay your loan and will return the remaining collateral to your Transaction account.