![]() The partnership between Ledn and Parallel is an exclusive one, commented Reed: “Parallel will only accept borrowed funds if they’ve been loaned by Ledn. Service de la carte geologique de France Explanatory text: 6p. Parallel, the real estate brokerage, already have considerable experience with crypto-facilitated real estate acquisitions: In December 2022, the agency sold a $10 million property to a buyer who paid entirely in cryptocurrency. Carte geologique detaillee de la France a 1/80 000: Saint-Omer. ![]() In this case, he remarked, “if or when BTC goes up, your loan-to-value ratio goes down, so your house is appreciating, and so is the asset you’re borrowing against.” The Ledn CEO highlights that while crypto-holders could also buy properties with cryptocurrencies outright, rather than taking out a loan, he anticipated most would prefer to borrow against their crypto to finance a purchase, rather than sell their current crypto-holdings. In any case, Ledn’s commission of the transaction would be fiat-free, he emphasized, and payable in either BTC or USD-backed stablecoins. Should they prefer to conduct the whole transaction without fiat, however, crypto-to-crypto transactions are also possible, thanks to the Cayman Islands’ virtual-asset-friendly rules. ![]() If the buyer or seller prefers to pay or receive fiat rather than cryptocurrency, Parallel would handle the crypto-to-fiat conversion, Reed pointed out. Speaking to Cointelegraph, Ledn CEO Adam Reeds explained that “Ledn will provide real estate buyers in the Caymans with crypto-backed loans, which Parallel will accept as a means to finance purchases.” Henceforth, crypto-holders will be able to take out a home loan with Ledn, using their bitcoin (or other cryptocurrency) as collateral, and use the funds to buy real estate through Parallel. The program allows those who invest between CI$500,000 and CI$2 million (various investment options and residency durations are available) in local real estate to obtain residency in the British Overseas Territory. Financial services firm Ledn, which is a licensed Virtual Asset Service Provider (VASP) with the Cayman Islands Monetary Authority, has partnered with Parallel, a local real estate agency, to provide loans for qualifying property acquisitions to investors in the territory’s residence by investment program.
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