When Venezuela experienced excessive inflation, Ledn co-founder Mauricio di Bartolomeo fought the collapsed local currency by shorting it in favor of a more stable dollar. Today, he is using a similar strategy – Bitcoins he lent to him this time (BTC) Hedge against the collapsed dollar.
Di Bartolomeo was linked with me during Toronto Canada Crypto Week, where he talked about the advantages of Bitcoin-backed loans and the rapid growth of mortgage-backed BTC loans. In our interview, he made a compelling case, which he was a compelling case even if the price of Bitcoin kept rising.
This week’s Crypto Biz participated in our conversation with the Ledn co-founder and covered the latest business news in the blockchain world.
Overinflation course
Before Bitcoin, Bartolomeo’s The most successful investment During his overcharging in the 2010s, his experience in Venezuela involved his experience in Venezuela.
“I borrowed the Bolivars and bought the US dollar with them, held the hard dollar and borrowed (position) on the weaker currency,” he said.
He then founded Ledn, a company that enables Bitcoin investors to gain dollar liquidity without breaking up barriers to BTC.
“You’re basically doing the same thing, but you’re actually holding hard money, which is bitcoin, and borrowing the dollar (currency), which is a weaker currency,” he said.
Many people in Bitcoin think this is a winning strategy. By the end of the fourth quarter, Ledn’s loan book value was $9.9 billion, according to Galaxy Research.
Guatemala’s largest bank integrates “invisible” encryption infrastructure
Banco Industrial, the largest bank in Guatemala, owns Integrated encryption infrastructure Sukupay Enter its mobile banking app to make it easier for users to receive dollars.
Sukupay said the integration is the first time that major retail banks in Latin America have used crypto-native protocols to pay for their payment services.
Banco Industrial has over 1,600 service locations in Guatemala and has also expanded to neighboring countries.
“The key to adopting blockchain technology first is to make the end user invisible,” Sukupay CEO Yonathan Lapchik told Cointelegraph.
Lapchik said that with Sukupay’s technology, Banco industrial application users can receive USD from the U.S. at a fixed fee of $0.99, which is significantly lower than the typical 6% to 10% they currently pay.
Bankers panic about stablecoins, NYU professor says
Seen at the Banking Hall of the United States Yield stabilizers are threats Austin Campbell, a professor at New York University, said its business model relies on deposits, paying depositors minimum interest and using the funds for high-risk investments.
In a social media post on May 21, Campbell claimed he heard the clamor about the new stablecoin, providing holders with interest payments and other currency rewards.
He told Democratic lawmakers, “Banks want you to protect their cartels so they continue to mess up your voters.”
Although Campbell did not mention any stable asset name, February report The SEC approved the country’s first rate of responsibility for stability and security in accordance with the figure market. At launch, YLDS Stablecoin produced 3.85%.
The PI protocol and the SPARK protocol also develop tokens with interest.
Strategy continues to stack
Michael Saylor’s Business Intelligence Company Strategy Resuming Purchase Carnival Last week, it acquired 7,390 BTC for about $765 million.
The latest purchases increase the strategy’s total Bitcoin holdings to 576,230 BTC, with an unrealized growth of approximately $20 billion.
The news comes two days before Bitcoin surpasses its previous all-time high Climb to over $109,000 This is the first time since January. Like other risky assets, Bitcoin has also benefited from improved investor sentiment after the suspension of tariff hostilities between the United States and China.
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