Hoseki Partners With Ledn For Easy Proof Of Ownership In Bitcoin-Backed Loans

Hoseki’s upcoming bitcoin-native asset attestation service promises to speed up the loan taking process.

Bitcoin startup Hoseki has announced a pre-launch partnership with financial services firm Ledn to provide lending and proof-of-assets services for retail investors, similar to industry-grade proof-of-reserves leveraged by custodians, the company said in a Monday statement sent to Bitcoin Magazine.

“Hoseki users will be able to seamlessly submit standardized proof-of-asset documentation to Ledn though the Hoseki mobile app or desktop website,” per the statement. “In the Hoseki dashboard where users manage their bitcoin storage and exchange account information, a lender’s tab will display Ledn’s information and educate prospective borrowers on the first steps toward originating a bitcoin-backed loan through Ledn.”

Hoseki aims to provide digital asset attestation services to bitcoin investors with a software application that can easily gather information from funds held at different bitcoin exchanges and self-custody wallets to generate asset ownership documents on demand. The firm said it is preparing to launch its alpha product later this month after almost one year of stealth building since it was founded in June 2021.

“Hoseki’s proof-of-asset documentation will be essential for borrowers to work with teams like Ledn as the bitcoin economy continues to grow and mature,” Sam Abbassi, Hoseki CEO, said in the statement.

Ledn recently attained a $540 million valuation as it raised $70 million in a series B financing round in December. Upon closing the series B round, the bitcoin lending platform also announced a bitcoin-backed mortgage product, which it said has gathered over $2 billion worth of interest since.

“We’re thrilled to collaborate with the Hoseki team as they build a crucial piece of financial infrastructure for the bitcoin economy,” said Adam Reeds, CEO of Ledn, in the statement. “Easy and standardized asset ownership documentation for all bitcoin investors can accelerate the volume of loan originations and broader maturity of the digital asset market by leaps and bounds.”