Stablecoin issuer Tether has announced a strategic investment in Ledn, a platform specializing in consumer loans collateralized by Bitcoin. This investment aims to bolster financial infrastructure that enables businesses and individuals to access liquidity and credit against their Bitcoin holdings without the necessity of selling their assets.
Ledn, established in 2018, offers custody, risk management, and liquidation services to users in over 100 countries. The company reported originating $392 million in Bitcoin-backed loans during the third quarter of 2025.
Adam Reeds, co-founder and CEO of Ledn, expressed optimism about the future, stating that the company anticipates continued growth in demand for Bitcoin financial services. The specific amount of Tether's investment was not disclosed.
This development follows a report indicating Tether's consideration of a $1.15 billion investment in Neura, a German robotics company.
The Resurgence of Bitcoin-Backed Loans
Bitcoin and crypto-backed loans are experiencing a global resurgence, occurring three years after the collapse of Celsius, a prominent centralized crypto lending and borrowing platform, in July 2022.
In May, Cantor Fitzgerald, in partnership with Maple Finance and FalconX, completed its first Bitcoin-backed lending transaction. This event signifies increased participation from Wall Street firms in the crypto credit markets.
In July, Block Earner introduced Bitcoin-backed home loans in Australia, a market grappling with escalating housing costs. These loans allow customers to secure cash financing up to 50% of a property's value, with the underlying digital assets safeguarded by Fireblocks.
Also in July, the U.S. House of Representatives introduced legislation proposing that federal mortgage agencies consider cryptocurrency holdings on regulated exchanges as part of a borrower's financial profile during mortgage underwriting.
A February report by the Canadian law firm Osler, Hoskin & Harcourt LLP projected that the Bitcoin-backed lending market could reach $45 billion by 2030.