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.
Galoy founder and CEO Nicolas Burtey wants to help more borrowers use bitcoin as collateral for loans while introducing open-source software into the traditional banking stack.
Earlier today, Coinbase announced the launch of “Bitcoin-Backed Loans” using Base, its native blockchain. But there’s one problem. (Actually, two.)
These loans are not backed by Bitcoin,...