Ledn Receives $50M Syndicated BTC-Backed Loan From Sygnum Bank
Takeaway Points
- Ledn receives a $50M loan from Sygnum Bank.
- It is the industry-first syndicated loan backed by Bitcoin (BTC).
- The loan will be used to fund the growth of Ledn’s retail lending operations.
Ledn, the premier crypto lender, said in a blog post on Tuesday that it has received $50 million, the industry-first syndicated loan backed by Bitcoin (BTC), from global digital asset banking group Sygnum. The loan will be used to fund the growth of Ledn’s retail lending operations.
Syndicated among Sygnum’s 2,000 institutional clients, the new $50 million loan will allow Ledn to bring additional liquidity to both the crypto sector and the existing $1.38 trillion syndicated loan market, the crypto lender said.
John Glover, Chief Investment Officer at Ledn, said in a comment that teaming up with Sygnum and receiving the loan is a great achievement for the company.
“Partnering with Sygnum to secure the first Bitcoin-backed syndicated loan facility is a landmark achievement for Ledn. This collaboration not only underscores our commitment to pioneering innovative financial solutions but also marks a significant step forward in integrating crypto assets into mainstream financial markets. We are excited to work with Sygnum to leverage this new source of liquidity to further drive our growth and continue offering secure and transparent financial products to our clients,” Glover said.
Benedikt Koedel, Head of Credit and Lending at Sygnum, said in a comment, “With the first Bitcoin-backed syndicated loan from a fully regulated bank, Sygnum is excited to support Ledn’s future growth and kick-start a new market for institutional lenders and borrowers as the crypto ecosystem matures.”
Ledn said it will use the loan to fund its retail book growth, offering its clients even more flexible opportunities to access capital while using their BTC holdings as collateral held in qualified custody to ensure the highest levels of security and regulatory compliance.
Adam Reeds, CEO and Co-Founder of Ledn, said, “We’re proud to be working with Sygnum, a fully regulated Swiss bank, to set a new benchmark for transparency, counterparty quality, robust risk management practices, and institutional-grade lending standards. We believe this marks the beginning of a new era of transparency and professionalism in digital asset financial services, and it aligns perfectly with our long-standing commitment to client asset security and regulatory compliance.”
About Sygnum
Sygnum is a global digital asset banking group, founded on Swiss and Singapore heritage. We empower professional and institutional investors, banks, corporates and DLT foundations to invest in digital assets with complete trust. Our team enables this through our institutional-grade security, expert personal service and portfolio of regulated digital asset banking, asset management, tokenisation and B2B services. In Switzerland, Sygnum holds a banking licence and has CMS and Major Payment Institution Licences in Singapore. The group is also regulated in the established global financial hubs of Abu Dhabi and Luxembourg. We believe that the future has heritage. Our crypto-native team of banking, investment and digital asset technology professionals are building a trusted gateway between the traditional and digital asset economies that we call Future Finance.
