Stablecoin issuer Tether has invested in Ledn, a platform that provides consumer loans collateralized by Bitcoin, the company said on Tuesday.
The funding aims to develop financial infrastructure that allows businesses and individuals to access liquidity and loans against their Bitcoin (BTC) without having to sell their holdings.
Founded in 2018, Ledn provides custody, risk management and liquidation services to users in over 100 countries. In October, the company reported that it raised $392 million in Bitcoin-backed loans for the third quarter of 2025.
Ledn co-founder and CEO Adam Reeds said the company expects “demand for Bitcoin financial services to continue to surge.” The funding amount was not disclosed.
The announcement follows a report that Tether is considering a $1.15 billion investment in Neura, a German robotics company.
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The return of Bitcoin-backed loans
Three years after the collapse of Celsius, a centralized crypto lending and borrowing platform, in July 2022, Bitcoin and cryptocurrency-backed loans appear to be making a comeback worldwide.
In May, Cantor Fitzgerald partnered with Maple Finance and FalconX to complete its first Bitcoin-backed lending transaction, signaling a deepening of Wall Street firms' involvement in crypto lending markets.
In July, Block Earner introduced Bitcoin-backed home loans in Australia, a country where rising property prices are becoming increasingly unaffordable. Customers can secure cash loans of up to 50% of the property value, with the underlying digital assets secured by Fireblocks.
Also in July, the U.S. House of Representatives introduced a bill that would require federal mortgage agencies to recognize cryptocurrency holdings held on regulated exchanges as part of a borrower's financial profile during mortgage underwriting.
A February report from Canadian law firm Osler, Hoskin & Harcourt LLP estimated that the Bitcoin-backed lending market could grow to $45 billion by 2030.
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