The use of blockchain technology to provide solutions that meet the needs of the general public is becoming a popular trend. In light of this, a Canadian lender supporting Bitcoin, Ledn Inc., made an announcement that he had released the first in the history of Bitcoin credit in the country for the bylls, which is a bitcoin payment system.
Ledn INC. Has made a statement at the recent Canada Fintech Forum, and this news is notable for helping to support the Canadian Bitcoin ecosystem, especially in the light of the recent news about the “hacking” of the local exchange. The news was also named an important milestone for Ledn Inc, as it helps cement the company’s position as the first and only Canadian company to issue a Canadian dollar loan, taking Bitcoin as collateral.
Bylls, which was launched about five years ago, was designed to provide Canadians with a prospectus in order to make a payment using Bitcoin.
As far as lending is concerned, Bylls CEO Francis Pulibot commented: “As a self-financed startup, it is important that we be able to reinvest our profits from Bitcoins in our business to sustain our growth. Traditional industries can usually use their cash flow from transactions, but we have never been able to use our accumulated Bitcoin capital without selling our precious coins until now. We are very pleased to be the first company using this service, which will finally allow us to maintain our policy regarding profits in Bitcoin. It changes the game. ”
Based on a recent report, Ledn Inc. has also reported that it has finalized its patented storage solution, which aims to ensure that collateral holders are provided with reliable cold storage for the period Lending.
Co-founder and chief specialist of Ledn, Mauricio Di Bartolomeo, also said:
“Prior to our Bitcoin-supported loans, bitcoin business operators and” holders “were at the mercy of markets at the time they needed liquidity. With Ledn They now have access to a source of liquidity, while they are waiting for more favorable market conditions. ”
He also commented that the loan issued by the company is more advantageous in terms of taxation.
He stated that:
“Ledn loans may also be more advantageous in the tax sense for access to liquidity: while, on the one hand, Bitcoin sellers are taxed on their profits, on the other hand, interest payments on Ledn loans may not be taxed.”