Crypto Lender Ledn Partners With Parallel To Offer Fiat-Free Real Estate Purchases in Cayman Islands
On August 24, Cryptocurrency lender Ledn partnered with Cayman's top crypto real estate broker, Parallel, to allow crypto investors to buy Cayman Islands real estate using digital assets.
The alliance opens up a new way for crypto investors to avoid the need to convert to fiat or sell their crypto while also offering a pathway to a "Golden Visa" qualification.
Founded in 2018, Ledn Inc., a worldwide digital asset financial services provider, obtained registration and regulatory clearance as a Virtual Asset Service Provider (VASP) in May from the Cayman Islands Monetary Authority (CIMA). Ledn provides savings accounts and loans to clients across 130+ countries, and since then, it has been extending its services and supported regions.
Also, on September 1, 2022, Parallel Limited achieved a historic milestone as the inaugural crypto real estate escrow provider in the Cayman Islands. It facilitated the Territory's first-ever cryptocurrency sale, involving a private residence with a price exceeding $5 million.
After the first sale, Parallel Limited showed impressive growth by facilitating the Territory's second cryptocurrency purchase, a private home costing more than US$10 million paid for entirely with cryptocurrency.
Since then, Parallel has already facilitated several other property purchases, ranging from US$1 million to US$12 million.
"As both companies are regulated by the Cayman Islands Monetary Authority (CIMA) as Virtual Asset Service Providers, this partnership is a testament to the framework that the regulator has put in place to encourage the responsible development of the crypto industry in the Cayman Islands. We are proud to be working with Parallel and to benefit from their stellar track record of facilitating
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