Ledn Launches DAI Stablecoin Credits to Latin American Customers

The Canadian company Ledn, which offers bitcoin secured loans in fiat currency, launches loans in the stablecoin DAI for the development of decentralized financing (DeFi) in Latin America.

Mauricio Di Bartolomeo, co-founder of Ledn, noted that the new partnership with stablecoin issuer MakerDAO is driven by demand. He said that more than half of Ledn’s customers are in Latin America, where the stablecoin DAI is increasingly seen as an alternative to strictly regulated transfers in dollars.

Recall that most Latin American countries are now suffering from the economic crisis and hyperinflation. For example, last weekend the Central Bank of Argentina lowered the limit on the purchase of US dollars to $ 200 per month per person. Nadia Alvarez, Business Development Manager for MakerDAO in Latin America, said:

“In Argentina, if you receive a bank transfer in US dollars, banks will immediately convert it to the Argentine peso and you will lose money. We know that BTC owners do not want to sell their bitcoins, but they need liquidity for daily expenses. That is why we believe that this proposal is relevant for Latin America. ”

Ledn will buy DAI from OTC traders and provide BTC storage for customers. Di Bartolomeo said that customers in different countries of Latin America reported banking problems similar to those in Argentina, so they turned to DAI. He added that Colombians make up 16% of the Ledn user base, followed by Venezuelans – 12%.

“Some of our customers said they would like to use stablecoins like DAI to buy additional digital assets. At the same time, other DAI users are needed to access more financial services, ”said Di Bartolomeo.

According to Alvarez, Ledn customers will soon be able to spend DAI stablecoins at points of sale in Colombia, Venezuela, Argentina and Brazil. MakerDAO is partnering with Pundi X, a product supplier that has already begun operations in Venezuela, and plans to install cryptocurrency terminals at 750 points of sale in Latin America.

“Ledn loans in DAI stablecoins provide an opportunity to get acquainted with the decentralized finance industry and its capabilities,” said Alvarez.

Note that the DeFi industry is attracting more and more companies. Synthetix, a decentralized financing platform, recently received $ 3.8 million from large investors. In addition, Binance and Chainlink said they would develop the industry, and in July Ontology and Opera teamed up to develop decentralized financing and applications. In addition, in September, Nasdaq launched an index for the DeFi industry.