Ledn, a prominent centralized crypto lender, is seeking to expand its services in the U.S., particularly in California, where it has submitted an application for regulatory approval. The company, which operates in over 130 countries, has reported $1.5 billion in assets on its platform, a 140% increase over the past year. Ledn co-founder and CEO Adam Reeds highlighted that most of their business involves lending U.S. dollars to individuals looking to retain their Bitcoin. With traditional financial institutions beginning to embrace cryptocurrency more actively, Reeds believes this shift could lower costs for consumers and make crypto lending more competitive. As more institutions enter the market, Ledn anticipates competitive pressure will lead to decreased costs and improved service offerings. The firm currently holds licenses across 39 states and aims to secure full U.S. licensing as it stabilizes its presence in regions with significant populations. Ledn’s focus on expanding its services aligns with broader trends in traditional finance, as firms seek to capitalize on the growing interest in cryptocurrency use cases and lending opportunities.

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