Canada’s Ledn and Cryptobuyer Form Alliance to Provide Crypto Loans in South America

Finance Magnates has recently reported on a new alliance formed in an attempt to offer crypto-backed loan services to South Americans.

In particular, the involved firms are Canadian firm specializing in crypto-related “credit and savings” services, Ledn and digital assets provider, Cryptobuyer. Here’s a tweet making said announcement, which first appeared on Friday, April 26, 2019:

Happy to announce this new collaboration con @hodlwithLedn with which we will provide credit & savings products at North American standards to 50,000+ customers in Latin America! #Bitcoin #Blockchain https://t.co/ugbmR8TsII

— Cryptobuyer (@cryptobuyer) April 26, 2019

Cryptobuyer is supposedly one of Latin America’s renowned digital asset experts with a total of 50,000 clients across South America including the likes of Mexico, Colombia, Venezuela, Panama and Argentina. Some of the services currently offered include an online brokerage, ATMs and PoS services to merchants.

As for the influence this partnership will have, it has been shared that South Americans will now have access to bitcoin-backed loans at the same rate and terms that North American are accustom to.

In terms of the loans, Finance Magnates noted that they are fixed at one year with an interest rate of 12%. In addition, those who take out the loans do not need to make monthly payments, but the full payment must be completed by the end of the year. Finally, South Americans are disclosed the fact that a financial service, namely a savings account, will also be offered over the course of time for bitcoin holders.

The efforts made to bringing awareness on crypto services and actually integrating them within society is evident here and this is exactly the type of foundation we need to expand upon the crypto sphere.