Ledn tops $1B in Bitcoin-backed loan originations as crypto lending surges

Ledn has facilitated $2.8 billion in cumulative crypto-backed loans as holders leverage market gains amid the bull market.

Digital asset lender Ledn has reported a record quarter for its Bitcoin-backed credit products, as more investors chose to borrow against their holdings amid the ongoing crypto bull market.

The company originated $392 million in Bitcoin (BTC)-backed loans during the third quarter, pushing year-to-date originations past $1 billion. Since its inception, Ledn has issued more than $2.8 billion in total loans across over 100 countries, the company said.

Ledn also reported generating approximately $100 million in annual recurring revenue.

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