ledn

Crypto lender Ledn Inc. has officially sold $188 million in securitized bonds backed by Bitcoin-linked loans.

Wall Street’s first public bitcoin-backed bond, issued by Ledn and rated by S&P, is facing stress after a 27% bitcoin drop forced liquidations.

With $868 million in BTC-backed loans secured by 18,488 BTC held 100% in custody and an average LTV of 55%, Ledn establishes a repeatable transparency benchmark.

The new offering targets high-net-worth clients looking to borrow against long term Bitcoin holdings.

Company Name: Ledn Founders: Mauricio Di Bartolomeo and Adam Reeds Date Founded: September 2018 Location of Headquarters: N/A (Fully remote) Number of Employees: 51 Website: https://ledn.io/ Public or Private? Private “Lending is the type of relationship where you...

Ledn will use the loan to fund the growth of its retail lending operations.

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Bitcoin as an asset is a perfect form of collateral and will likely be used to provide financial backing for mortgages and other forms of debt.

Ledn customers will be able to purchase properties with their bitcoin holdings by early next year.