Ledn | Crypto

The investment from the stablecoin giant coincides with accelerating institutional interest and Wall Street participation in the crypto-backed loans sector. Stablecoin issuer Tether has invested in Ledn, a platform providing consumer loans collateralized by Bitcoin, the company said Tuesday. The funding is targeted toward developing financial infrastructure that allows businesses and individuals to access liquidity and credit against their Bitcoin (BTC) without needing to sell their holdings.  Ledn, founded in 2018, provides users in over 100 countries with custody, risk management and liquidation services. In October, the company reported it had originated $392 million in Bitcoin-backed loans for the third quarter of 2025. Read more

The stablecoin issuer's investment comes as BTC-backed lending scales rapidly, with Ledn surpassing $1 billion in originations this year and positioning for global expansion.

Ledn has facilitated $2.8 billion in cumulative crypto-backed loans as holders leverage market gains amid the bull market. Digital asset lender Ledn has reported a record quarter for its Bitcoin-backed credit products, as more investors chose to borrow against their holdings amid the ongoing crypto bull market. The company originated $392 million in Bitcoin (BTC)-backed loans during the third quarter, pushing year-to-date originations past $1 billion. Since its inception, Ledn has issued more than $2.8 billion in total loans across over 100 countries, the company said. Ledn also reported generating approximately $100 million in annual recurring revenue. Read more

The twice-oversubscribed facility underscores rising institutional demand for Bitcoin-backed credit and inflation-resistant yield products. Digital asset lender Ledn has tapped Swiss crypto bank Sygnum to refinance its $50 million Bitcoin-backed loan, in a deal that the companies say opens the door to tokenized, Bitcoin-collateralized investment opportunities. While the refinancing matches Ledn’s $50 million syndicated loan from 2024, the latest facility was twice oversubscribed, the companies said Wednesday.  An oversubscribed loan offering indicates that investor demand exceeds the available loan allocation, often signaling strong institutional interest. In such cases, investors may receive only a fraction of their requested allocation, or the issuer may increase the loan size to accommodate more capital. Read more

Ledn will no longer lend out client assets to generate yield, opting instead to keep Bitcoin under full custody. Digital asset lender Ledn is transitioning to fully collateralized Bitcoin lending and discontinuing support for Ethereum, in moves designed to consolidate its BTC-focused business and further safeguard client assets against credit risks. In adopting a full custody structure for Bitcoin (BTC) loans, Ledn will no longer lend out client assets to generate interest, the company disclosed on May 23. Instead, Bitcoin collateral will remain under full custody by Ledn or one of its designated funding partners.  “This means assets aren’t rehypothecated, reused, or loaned out to generate yield,” Ledn co-founder and CEO Adam Reeds told Cointelegraph. Read more

Bitcoin holders can now employ a similar strategy by shorting the US dollar and holding on to the harder asset, BTC, said Mauricio di Bartolomeo. Before discovering Bitcoin (BTC), Ledn co-founder Mauricio di Bartolomeo found success shorting the Venezuelan Bolivar as it rapidly lost value against the stronger US dollar. Now, with the US dollar depreciating against Bitcoin, borrowing against Bitcoin instead of selling it has become a more viable strategy. “Prior to Bitcoin, my most successful investment was shorting the Bolivar with dollars,” di Bartolomeo told Cointelegraph in an exclusive interview at the Consensus conference in Toronto, Canada.  “I was borrowing Bolivars and buying dollars with them, holding the hard dollars and having a borrow [position] on the weaker currency,” he said. Read more

Taking advantage of the increasingly divergent fundamentals of Bitcoin and fiat currency could be a way out for struggling miners. Bitcoin (BTC) mining firms should hold their mined Bitcoin and use it as collateral for fiat-denominated loans to pay operating expenses instead of selling BTC and losing the upside of an asset that miners expect to surge in price, according to John Glover, chief investment officer at Bitcoin lending firm Ledn. In an interview with Cointelegraph, Glover said that holding onto the BTC carries several benefits including, price appreciation, tax deferment, and the potential to make extra revenue by lending out BTC held in corporate treasuries. The executive added: This debt-based approach is similar to companies like Strategy, which issue corporate debt and equity to finance Bitcoin acquisition and profit from the diverging fundamentals of BTC and the fiat currencies the corporate capital raises are denominated in. Read more