
Ledn’s strong 2023 performance, with over $1 billion in loans and third-place global ranking among centralized lenders, highlights robust demand for Bitcoin-backed credit.
Ledn originated more than $1 billion in loans in 2023, with $392 million in Bitcoin-backed loans recorded in Q3. By the end of September, its outstanding loans totaled $836.2 million, averaging a loan-to-value ratio of 42.7%. The company ranked third among global centralized crypto lenders, trailing only Tether and Galaxy in size, underscoring its position in the competitive lending market.