Stablecoin issuer Tether has invested in Ledn, a platform providing consumer loans collateralized by Bitcoin, the company said Tuesday.
The funding is targeted toward developing financial infrastructure that allows businesses and individuals to access liquidity and credit against their Bitcoin (BTC) without needing to sell their holdings.
Ledn, founded in 2018, provides users in over 100 countries with custody, risk management and liquidation services. In October, the company reported it had originated $392 million in Bitcoin-backed loans for the third quarter of 2025.
Adam Reeds, co-founder and CEO of Ledn, said the company expects “demand for Bitcoin financial services to continue soaring.” 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.
Related: Institutions lean into crypto despite Bitcoin price slump
Return of Bitcoin-backed loans
Bitcoin and crypto-backed loans appear to be making a comeback globally, three years after the fall of Celsius, a centralized crypto lending and borrowing platform, in July 2022.
In May, Cantor Fitzgerald partnered with Maple Finance and FalconX to complete its first Bitcoin-backed lending transaction, signaling a deepening of participation by Wall Street companies in the crypto credit markets.
In July, Block Earner unveiled Bitcoin-backed home loans in Australia, a country where the rising cost of homes has become increasingly unaffordable. Customers can secure cash loans for up to 50% of the property’s value, with the underlying digital assets secured by Fireblocks.
Also in July, the US House of Representatives introduced a bill asking federal mortgage agencies to acknowledge cryptocurrency holdings held on regulated exchanges as a component of a borrower’s financial profile during mortgage underwriting.
A February report from the Canadian law firm Osler, Hoskin & Harcourt LLP estimated that the Bitcoin-backed lending market could surge to $45 billion by 2030.
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