Spurred on by the relentless demands of users, Bitcoin lending firm Ledn has finally succumbed to their pleas and decided to launch an Ethereum yield product. This move comes as a response to users seeking an alternative to manually staking Ether, and Ledn aims to provide them with a shielded option. Ledn’s Growth Accounts products, which currently offer interest on Bitcoin and USD Coin deposits, will now include an ETH offering. The company acknowledges the need for an easier way to earn interest from ETH holdings without the hassle of managing it through liquid staking pools.
One key aspect that sets Ledn apart is the ring-fencing of its Growth Accounts from its other products and services. This means that user deposits will remain unaffected even if Ledn were to face bankruptcy. This is a crucial feature considering the failures of other prominent crypto lending firms in the industry. Ledn’s chief strategy officer, Mauricio Di Bartolomeo, believes that this new offering will be a favorable alternative to self-managing ETH staking.
In addition to the ETH yield product, Ledn also announced the launch of a second stablecoin Growth Account, allowing users to deposit and earn interest on Tether tokens. However, these new offerings will not be available to users in the United States or Canada.
– Ledn is launching an Ethereum yield product in response to user requests for an alternative to manually staking Ether.
– The company’s Growth Accounts products will now include an ETH offering alongside Bitcoin and USD Coin.
– Ledn’s Growth Accounts are ring-fenced from its other products and services, ensuring user deposits remain unaffected in case of bankruptcy.
– Ledn plans to expand ETH support across its entire suite of products in the future.
– Ledn will also launch a second stablecoin Growth Account for Tether tokens, but it won’t be available to users in the United States or Canada.