Access to financing with bitcoin is one of the trends in the digital asset ecosystem.
“The money and the banks failed us Venezuelans,” the executive highlighted to CriptoNoticias.
Mauricio Di Bartolomeo, co-founder and partner of Ledn, a bitcoin (BTC) lending platform, highlighted in an interview with CriptoNoticias that, despite the financial situation that Venezuelans are going through, they are on par with anyone else in the world when it comes to requesting loans with the digital currency.
The statement is due to the fact that Ledn offers financing in dollars, but with bitcoin as a collateral asset. That is, if a user needs a loan of $500, but does not want to sell their BTC, You can request the aforementioned amount leaving bitcoin as collateral. In this example, the collateral is $1,000.
“You in Venezuela can now take a loan in Ledn and receive the same terms and conditions as a person in Madrid, as a person in Lisbon, as a person in the United States,” explained the Venezuelan executive who at the same time asks himself the following question.
“When before in the history of Venezuela was there access to financing in that parity of terms? That did not exist. Many people in Venezuela use Ledn and have been financed. All the people who have used this type of loans responsibly have benefited.”
The reality in Venezuela is that financing is almost zerothis due to inflation and the devaluation of the bolivar. Local banks have had to look for new services to adapt to current times with greater regulations and official provisions.
And it is there where Di Bartolomeo puts the contextual emphasis since historically in the oil country financial difficulties are longstanding.
Money and banks failed us, historically they always failed us and we saw an opportunity (with bitcoin) to rebuild it and it is incredible to see how many people understood the opportunity and jumped at the opportunity.
Mauricio Di Bartolomeo, co-founder
For the bitcoiner, the problem that there are currently no bank loans in Venezuela It has nothing to do with the loans themselves.. He believes that the problem was the currency, the bolivar.
“You were using the currency (the bolivar); that was what was broken. The practice of lending was not broken, everyone has done it since the times of Mesopotamia, but when you take loans from a hyperinflated currency, you really hurt the issuer, you destroy it and when you destroy the issuer the loans dry up.”
Di Bartolomeo reiterated that bitcoin is the best collateral asset in the world and that a person in Venezuela can use it to obtain loans from any global company.
Regarding the service offered by Ledn, the minimum amount to request loans is $500. These are sent, once the request is approved, in USD to bank accounts or via USDC. Financing is for a standard term of 12 months, A 2% administrative fee applies when originating the loan and there is no penalty for early payments.