A Canadian lender has issued the country’s first cryptocurrency-backed loan to a local company. Using Bitcoin (BTC) as collateral, Ledn has issued a loan in Canadian dollars to Bylls, a Bitcoin payment processing platform. According to Francis Pouliout, CEO of Bylls, the loan allowed the company to leverage their crypto capital and solve important issues for the company.
“We are very excited to be the first company to use this service, which will finally allow us to maintain our policy of holding profits in Bitcoin. This is a game changer," Pouliot said in a report. “As a self-funded startup, it is important that we are able to reinvest our Bitcoin revenues in our business to sustain our growth. Traditional industries can normally leverage their cash flow from operations, but we were never able to make use of our accumulated Bitcoin capital without having to sell ou...
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