Ledn Tops $1 Billion in Bitcoin-Backed Loans This Year as Bitcoin Lending Market Rebounds
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According to COINOTAG News, CoinDesk reports that Ledn has surpassed $1 billion in year-to-date loan issuance, with Bitcoin-backed loans totaling $392 million in Q3, signaling renewed momentum in the Bitcoin lending segment and institutional appetite for collateralized financing.
Annual recurring revenue (ARR) climbed to $100 million, underscoring a solid rebound in crypto lending monetization and reinforcing Ledn‘s role as a capital-efficient lender within digital-asset markets.
As of the end of September, Ledn‘s loan book stood at $836.2 million, with an average loan-to-value ratio of 42.7%, a conservative profile that sits well below elevated risk bands.
Galaxy Research data position Ledn as the world’s third-largest centralized crypto lender, behind Tether and Galaxy, highlighting its scale in a competitive segment.