18 November 2025 – Tether, the largest company in the digital asset industry, today announces an investment in Ledn, one of the global market leaders in consumer bitcoin-backed loans. The investment underscores Tether’s commitment to building real-world financial infrastructure that empowers individuals and businesses to access credit without selling their digital assets.
Ledn’s infrastructure includes advanced custody, risk management, and liquidation systems that ensure clients’ digital assets backing their loan remain secure throughout the life of each loan. Ledn is well-positioned to expand access to credit across both retail and institutional markets as the bitcoin-backed lending market potentially enters a phase of significant growth.
Ledn has originated over $2.8 billion in bitcoin-backed loans since inception, including more than $1 billion in 2025, marking its strongest year yet. In Q3 2025 alone, Ledn originated $392 million, nearly matching the total volume generated during all of 2024. The company now reports annual recurring revenue (ARR) exceeding $100 million, underscoring the growing demand for secure, bitcoin-backed lending products.
According to Data Intelo’s crypto-backed lending market outlook, the report indicates that the sector is expected to grow from an estimated USD 7.8 billion in 2024 to over $60 billion by 2033, due to the increasing demand for alternative lending solutions that leverage cryptocurrencies as backing, providing both individuals and enterprises with flexible access to liquidity without liquidating their digital assets. Given Ledn’s presence in centralized lending, it is well-positioned to deepen access to credit across both retail and institutional markets as demand accelerates.
“Our investment reflects Tether’s belief that financial innovation should empower people”, said Paolo Ardoino, CEO of Tether. “Together with Ledn, we are expanding access to credit without requiring individuals to sell their digital assets. This approach strengthens self-custody and financial resilience, while creating real-world use cases that reinforce the long-term role of digital assets as essential pillars of a more inclusive global financial system.”
“This investment brings together two market leaders to shape the future of the bitcoin-backed lending market,” said Adam Reeds, co-founder and CEO of Ledn. “As Ledn’s loan book is on track to nearly triple from our 2024 levels, it validates our decision to go all-in on bitcoin. We expect demand for bitcoin financial services to continue soaring, and this collaboration with Tether ensures that Ledn remains well-positioned to lead as the market continues to evolve and grow. We are excited for the opportunities that lie ahead to collaborate and innovate in this space.”
By allowing borrowers to use their bitcoin as backing rather than sell it, Ledn and Tether are advancing new pathways for wealth preservation, financial resilience, and long-term use cases for decentralized technology. At the same time, Ledn’s platform infrastructure makes it an ideal fit for expanding the use and distribution of Tether’s assets across new markets.
