Tether Invests in Ledn to Expand Bitcoin-Backed Lending Amid Surging Demand
Tether has invested in Ledn to expand access to credit secured by Bitcoin. While the investment amount was not disclosed, Ledn has originated over $2.8 billion in BTC-backed loans to date, including more than $1 billion in 2025 alone, with $392 million in Q3. This year is on track to be Ledn's strongest yet, nearly matching the total volume from 2024.
Bitcoin-backed lending provides liquidity without requiring the sale of BTC, meeting growing demand for such services. The crypto-backed lending market is forecast to grow about eightfold by 2033 due to the need for liquidity without asset sale.
Ledn, registered in the Cayman Islands, survived the 2022 crypto-lending rout by operating a bitcoin-only model that simplifies its offering. Tether's investment aligns with its strategy to support real-world financial services built on digital asset rails and to promote self-custodial credit empowerment.
