Latest / Financial Survival Network / Crypto-Backed Loans Made Easy -- Mauricio Di Bartolomeo #5880

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Crypto-Backed Loans Made Easy -- Mauricio Di Bartolomeo #5880 · Financial Survival Network

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  So yeah, we do several things to provide transparency to our clients or borrowers.
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  We have a bit of a name as the most transparent or the most
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  responsible company in the space. They used to call us a few years back
• 0:12
  the boring Canadians, but after twenty twenty two, be boring became a very
• 0:19
  positive thing. You're listening to Carrie Letts's Financial Survival Network, where you get
• 0:24
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• 0:30
  You need the Financial Survival Network now more than ever. Go to Financial Survival
• 0:36
  and Network dot com and get your free newsletter and gift. Financial Survival Network
• 0:42
  now more than ever, And welcome. You are listening to watching the Financial
• 0:51
  Survival Network. I'm your host, Carrie Lutts, And hey, we're second
• 0:56
  to last week of August and things are racing by, but the world waits
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  for no one. And well, hey, it's just in Vegas for a
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  weekend to go see a concert and meet some friends. And it rained the
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  entire time I was there, which was actually a good thing because instead of
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  it being one hundred degrees, it was eighty degrees. A little human,
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  which is unusual for Vegas if you've been there in the summer. But innovation
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  continues. Probably no place where innovation is taking faster than taking hold faster than
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  in the crypto sector. Mauricio di Bartolomeo is with us and now and his
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  company, and I hope I say this right is Leaden and Hey Mauricio,
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  welcome to the show. So Leaden Private Wealth, Leaden Capital, tell us
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  what exactly you do in the crypto space? Hey, Gary, thanks for
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  having me, sure and happy to tell you about what we do. So
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  our product, our flagship product is very simple. We issue dollar loans backed
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  by bitcoin collateral. So that is a product that gets you dollar liquidity without
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  having to sell your bitcoin or create a taxable event. So the main benefits
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  to this product is that you get the dollars you need and maintain ownership of
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  your bitcoin, so you get to keep the upside of the asset appreciates while
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  you have the loan. By taking a loan and not selling, you're not
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  creating a taxable event, so in most jurisdictions that is avatigis from tax perspective.
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  Then you can repay the loan and get your collateral back. That is
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  the product we've been doing this as twenty eighteen, we processed thousands of these,
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  almost six hundred million dollars worth of these loans. And the other product
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  that we offer is the ability to learn interest on both US stable cooin dollars
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  stable coins. That's how we financed the bitcoin back loans. So we pay
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  nine toward poll Newark. We charge to a point nine to the borrowers,
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  and you can also earn interest on your bitcoin, so passive income on your
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  So sorry, all things lending and borrowing for bitcoin of stable coins, all
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  right, got it? So okay? Well, yeah, any collateralized lending,
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  especially for a digital asset, person's gonna wonder how do I know my
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  collateral is safe? How do I know the companies are going to blow up
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  and I lose all my collateral. You must have some type of trust arrangement
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  to secure the collateral. So yeah, we do several things to provide transparency
• 3:31
  to our clients or borrowers. We have a bit of a name as the
• 3:36
  most transparent or the most responsible company in the space. They used to call
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  us a few years back, the boring Canadians, but after twenty twenty two,
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  be Boring became a very positive thing and already give us apprentices exactly boring
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  is sex seed again, as we like to say, But in twenty twenty
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  one it was. It was a hard pitch because back then we were to
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  people when other companies were introducing a new tokens and new ways to speculate,
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  we were introducing proof of reserves. So in proof of reserves is a process
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  whereby we bring in accountant to Lettin every six months to verify the assets that
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  we have on behalf of clients and to verify where those assets are in our
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  accounts and our exchange partners, lending partners, custody, etc. Banks and
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  they verify that we have more than of assets to cover our client liabilities.
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  They produce a report. The report is made available to our clients. This
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  happens every six months, our next ones up in October. And the other
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  thing that we do is we produce what's called the open book report, so
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  all of our clients when they log into our accounts in their growth account dashboards
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  or you can check this out at our blog as well. Every month we
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  publish how we are utilizing the assets at Lettin to generate the interests that we
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  pay out. So for example, on the US and EC side, we
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  will show you how much or what percentage of those dollars are being deployed to
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  finance a bitcoin back loan book and the bitcoins. We will show you how
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  many, how much more percentative each of that pool it's led to each institution,
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  and how many institutions are actively borrowing from that pool. So our clients
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  can see both how we are accounting for the assets, how we are utilizing
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  the assets, and they can basically make their own decisions with that information.
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  Okay, so this is audited, these reports, it's not an audit.
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  It's called the proof of reserves at the station and it's produced by a group
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  called the Network. They are to certified public accountant. But again, this
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  is not what's called a full audit. That's something that we are planning to
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  do further down the line. But today it's a proof of reserves at the
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  station and it is the ongoing overbook purports that are available. Oh yeah,
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  gotcha, gotcha? All right, So how is business? By the way,
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  it's good. I mean, it's the you've seen what happened in the
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  markets last year. Twenty twenty two was a year where a lot of our
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  competitors, unfortunately, who were doing a lot of irresponsible things and acting recklessly,
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  they went under and by virtue of that they were fortunately took down a
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  lot of client assets with them, and there were up in twenty twenty two,
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  there was about I would I want to say, there were about senator
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  eight venues or platform where you could go borrow against your bitcoin or against your
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  digital asset. Today there's basically us left. There aren't that many places left
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  to do this. And the reality is that these products are non discretionary in
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  the sense that you don't wake up in the morning and say today is a
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  great day for a loan. You know alone, You take a loan because
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  you need a loan, and the reasons the reasons why you need a loan
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  don't necessarily change day to day, or they don't change because of a particular
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  event occurred, like say FDx. So, for example, a person that
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  was bitcoin wealthy two years ago and needed a loan to buy or a property
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  or to diversify away from bitcoint and that platform is no longer there, they
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  will not stop needing a loan, you know, they still need a loan
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  this year. And so we're seeing a lot of the demand Carlson Train back
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  to lead it, and we are becoming the leader. We are the leader
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  and this product offering, and so it's something that we are We're not happy
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  that these bad actors cause so much pain and damage to people, but it
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  is great to see that these these people are no longer in the industry,
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  and so a lot of the volume and the flows are concentrating back to the
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  good actors and uh and I'm very bullish and optimistic on the future of this
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  industry and of this particular product, mainly to them from Venezuela. So I'm
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  from the part of the world where you cannot get ah, you can't get
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  a single digit dollar financing loan for a house. Mortgages largely don't exist for
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  the not extremely wealthy people outside of the US, Canada, Australia. Maybe
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  they always see OECD countries. And now with bitcoin, I can give somebody
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  alone in Colombia at the same rates that I'm issuing alone in Canada, with
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  the same level of service, with the same treatment that wasn't out that couldn't
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  be done before bitcoin, and that will change the world. Okay, So
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  places like Venezuela are not exactly known to be the freest places on the planet
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  for sure, So is the government trying to stop you there? Have they
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  tried to, Have they taken any steps to restrict you, or can they
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  even do it? So in many countries there has been no effort to put
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  in a framework for the regulating offerings in crypto assets. So for example,
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  in the even in the country like the US, you're just starting to see
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  a framework emerge for some of these services. Similar in places like Canada or
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  different parts of the world. And even when these frameworks are emerging, they
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  are emerging for a particular activity. So for example, in Canada, they
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  have a brain framework now for trading platforms, but they do not have a
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  great framework for lending offerings. So what that What that does in the way
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  we adapt the regulation is when a product or a particular service is regulated in
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  a particular country, we have to go make sure that our product abides by
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  those local regulations in the countries or places where there is no regulation yet.
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  Uh, it's it's uh, it's not as uh, there is not as
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  restrictive today because again the rules have not been laid out today. So in
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  a place like the other thing that you have with a country like Venezuela is
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  that it has an illegitimate government. So you could even question, uh,
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  you know, I would question deeply any type of legislation coming out of that
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  body, because again it's an illegitimate body of government. Okay, well we
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  could get into that. So and it's the great equalizer. Yeah and all
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  right, So how hard is it to set up an account? It's very
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  simple. It's you can register an account with Letting in under two minutes.
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  The services and products that are available to you will largely vary depending on the
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  jurisdiction that you are in. So for example, in a place like the
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  US, we can offer our dollar loans backed by bitcoin in a number of
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  states, not all of them, but the vast majority of the states,
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  or a number of the states. I shouldn't say a vasque majority consistent,
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  but it's about half. In Canada, same thing, we can offer bitquoickbac
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  loans broadly speaking into most provinces. But for example, if you are in
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  a country like anyway, most of Latin America, I would say with our
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  leaving a specific country would have access to our biquinmac loans, our b two
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  x loans are yield product and passive income on both your stable coin and your
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  bitcoin BCNS and a plethora of other services that we have. But again that
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  varies depending on where in the world you are. But setting up an account,
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  it takes on the two minutes anyone watching or listening go to letting dot
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  io and set up an account. Very cool. So so it's easy to
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  do, huh. That's the beauty with digital assets is you know, for
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  somebody in where I grew up in Venezuela. You know, if you are
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  a person that lives in a smaller city, there are no band branches in
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  your smaller cities. Sometimes you have to travel three to four hours to set
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  up an account any fascional institution. It's it's very difficult to have access to
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  both physical or digital banking infrastructure in a lot of Latin America. And what
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  digital assets have done is that now everybody with a phone can open an account
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  and letting and have an address where they can receive dollars from anywhere in the
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  world. Because now anybody can send you a crypto asset stable point and you
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  can receive that into your account. You can already start earning interests you can
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  start making payments internationally, and so it connects you to a wealth of services
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  of much higher quality in a much faster way and gets to people that are
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  in remote locations because all you need is an Internet connection. Gotcha all right?
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  So where do we go? How do you set it up? So
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  to set up an account, you would go to lettin dot io at the
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  top right hand corner. You will see a button that says sign up and
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  you can click and sign up. We are a centralized entity, so that
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  means that we have to go through the know your Client process, so you
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  will have to provide your personal information a copy of your ID to get through
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  the process that should take you about five minutes to complete. Our team should
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  renew a process that with about within about twenty four to forty eight hours,
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  you will receive a note that your account has been approved. Once your account
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  is approved, you can log in and you will see if the addresses to
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  fund your account either in stable coins or in bitcoin. And once your account
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  is funded, you have access to the products there are available to you,
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  and if you have any questions about anything that is on the platform where what
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  is available, you can email our team at support at that and dot io.
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  We get back to clients within hours, you know, less than an
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  hour most of the times, and our team is fantastic helping people get set
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  up. All right, excellent, Well, it sounds very innovative and I'm
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  sure it's for some of you out there. It will be very useful.
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  That's where you get to keep your You get to have your cake and eat
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  it too effectively. Obviously for a fee. Nobody's in this for nothing and
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  sounds safe. Appreciate you coming on, Ory CEO. There's a link to
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  Leaden in the show notes this interview on Financial Survival Network dot com. Make
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  sure you click it while you're there. Sign up for your free newsletter.
• 13:56
  Mauricio bet a total pleasure, good luck, Thanks so much, Thank you,
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  Cary, thanks for listening to carry Lets's Financial Survival Network, your solution
• 14:07
  to today's trying times. For the latest, go to Financial Survival Network dot
• 14:11
  com. Financial Survival Network now more than ever,