Wow, great news...huge....

https://www.ledn.io/



Isn't it great?
For a 10 000 CAD you'll be needing just a collateral of 3.3 BTC or roughly 300% of the sum you try to get.



They say 1-1.5% monthly, and T&C may apply so...we can safely assume something around 2-3%, and that is monthly:P

Oh boi, so both the collateral are incredibly high and the interest rate is hilarously steep. Well, that's one way to manage your risk. I guess they also break your legs if you're late with your payments? :p

Very good path and bitcoin is always makinf difference. Its very profecient way for holders and am sure with time some more countries will incoporate this  brilliant idea.

I don't see any meaning in issuing loan. Sometimes these permissions are given to rip Civilian money.In India riches ripped Government Banks Billions of dollars and ran away to Other Countries and to bring them back again Govt has to spend money and get Nothing.

I think it will revolutionize the lending business if all the countries start giving out loans keeping crypto as collateral. It will be a good thing for the new potential projects who have raised good amount of BTC or ETH and dont wanna sell them till the release of their platform.

Wow, thanks for digging in to that for us. It really is terrible then, it makes no sense for anyone to do this. Just sell to fiat and take out a loan in fiat where you'll get much better terms. I can't think of any person who would actually benefit from this. Maybe only someone who's extremely cash strapped and over invested in to bitcoin and doesn't want to sell that bitcoin? But it's not a sound financial decision.

This a great news for the cryptocurrency community and bitcoin users. It goes to show the world is gradually accepting the use of bitcoin and making it convenient for their citizens from different parts of the world. This is just the beginning, we will see more countries do same in time coming.

It's really nothing new to the bitcoin community. We've been doing this for years now on the lending subforum where bitcoin or other cryptocurrencies can be used as collateral for a fixed fiat currency loan.

Loans offered that way is exactly what this bank is doing, here. Obviously, the scale is going to be much bigger and it might even be targeting big time traders or institutions, but the principle is the same.

They mention tax advantages in the article, which is a huge plus instead of cashing out and incurring a capital gain. There may well be more institutions offering these types of loans in the future given the continued recognition of bitcoin as a liquid form of currency.

I believe with you and your argument about bitcoin never dies