Bitcoin-backed loans enter capital markets with Ledn ABS

Ledn, which makes loans to retail investors and small businesses who want to use bitcoin as productive collateral rather than selling it, was formed in 2018 to solve a personal problem for founders CEO Adam Reeds and chief sales officer Mauricio Di Bartolomeo.

Since inception, Ledn has originated more than $11bn in loans to clients in more than 100 countries, including developing economies where loans are usually only available to the wealthy. In February 2026, Ledn issued the first investment-grade-rated, asset-backed security in the digital asset industry.

Want to continue reading The Banker?

Benefit from expert analysis, exclusive data and rankings, clear insight into innovation, regulation and strategy, and the context you need to stay ahead of critical developments in global finance.