Bitcoin Lender Ledn Hits $1B in Loan Origination This Year as BTC Credit Market Picks Up

Bitcoin (BTC) lender Ledn said on Monday it has crossed $1 billion in loan originations so far this year, marking its strongest quarter to date. The Toronto-founded firm issued $392 million in BTC-backed loans during the third quarter alone, nearly matching the company’s total loan volume for all of 2024. Ledn also reported $100 million in annual recurring revenue (ARR). The company said the momentum reflects growing demand for credit products secured by bitcoin instead of cashing out holdings. The growt ...