Mezo, a Bitcoin-native DeFi platform focused on BTC-backed borrowing and yield generation, has announced a strategic partnership with Anchorage Digital. This collaboration aims to provide institutional clients with access to low-cost stablecoin loans and short-term veBTC rewards, thereby facilitating a compliant entry point into Bitcoin-native finance for public companies and digital asset treasuries.
Through Anchorage's Porto wallet, institutional clients can now borrow against their Bitcoin (BTC) holdings at a fixed rate of 1%. This is achieved by utilizing Mezo's Bitcoin-backed stablecoin, MUSD. The announcement was made on Wednesday.
The integration also introduces advanced short-term yield tools. Clients have the opportunity to lock their Bitcoin for periods ranging from six to 30 days, in exchange for receiving veBTC. This tokenized position entitles holders to a share of on-chain network fees and offers enhanced rewards for longer commitment periods. Additionally, veBTC holders gain governance rights over Mezo's fee structure and overall economics.
Matt Luongo, CEO of Thesis and a co-founder of Mezo, expressed his vision for the platform:
Mezo is realizing Hal Finney's vision for a Bitcoin banking experience that issues its own digital currency backed by Bitcoin, acting as banks did before they became nationalized.
Mezo operates as a Bitcoin-native finance protocol, enabling users to borrow, save, and earn yield through on-chain tools powered by MUSD. The protocol was developed by Thesis, a Bitcoin venture studio established in 2014, which focuses on building decentralized products and infrastructure.
Surge in Bitcoin-Backed Borrowing
The market for Bitcoin-backed borrowing has experienced significant growth throughout 2025, with a consistent introduction of new platforms and financial products. This trend is projected to accelerate, with a February report from Osler, Hoskin & Harcourt estimating that the market could expand to reach $45 billion by the year 2030.
Tether recently disclosed its investment in Ledn, a Bitcoin-backed lending platform that provides consumer loans secured by cryptocurrency holdings. In October, Ledn reported originating $392 million in Bitcoin-backed loans during the third quarter of 2025.
In May, Cantor Fitzgerald collaborated with Maple Finance and FalconX to execute its inaugural loan backed by Bitcoin. This action highlighted the increasing involvement of Wall Street firms in the crypto credit markets.
Further expanding the utility of Bitcoin for real-world assets, Block Earner launched Bitcoin-backed home loans in Australia in July. This initiative allows property buyers to leverage their BTC holdings for up to half the value of a property, addressing rising housing prices in the country.
