Ledn to Reach $1 Billion in Bitcoin-Backed Loans by 2025

• Ledn surpasses US$1 billion in originations
• Quarterly volume reaches US$ 392 million
• 100% guaranteed model strengthens credibility

Ledn closed the third quarter of 2025 with historic numbers, solidifying its position as the largest bitcoin-backed retail lender in the industry. The company registered $392 million in new loans between July and September, virtually matching its activity for the entire year of 2024. This performance increased total originations for the year to date to over $1 billion, in addition to pushing the company to surpass $100 million in annual recurring revenue.

According to co-founder and CEO Adam Reeds, the results reflect the growing demand for bitcoin-collateralized credit and Ledn's focus on solid management practices.

“Surpassing the $1 billion mark in loan originations year-to-date reinforces the growing demand for responsible bitcoin-backed lending and our commitment to transparency and trust,”

stated.

The company also released its 10th Proof of Reserves audit, conducted by The Network Firm LLP on September 30. The report revealed that Ledn's loan portfolio totals $836,2 million, with an aggregate loan-to-value ratio of 42,68%, providing direct visibility into collateral levels and operational risks.

Founded in 2018, the lender has already originated over $2,8 billion in loans for customers in over 100 countries. The company highlights that its structure allows users to access liquidity without selling Bitcoin, avoiding taxable events and preserving their long-term assets.

The cryptocurrency lending sector has faced challenges since the collapse of major centralized players in 2022, such as BlockFi, Celsius, Genesis, and Voyager. Ledn attributes its resilience to its "prioritization of security" and "robust risk management program," as co-founder Mauricio Di Bartolomeo previously explained.

The company's strategy includes a fully collateralized model, frequent audits, and operations under regulated entities classified as VASPs. In May, Ledn switched to exclusively Bitcoin, ending support for Ethereum, and eliminating asset-based lending, reducing counterparty risks.

Reeds reaffirmed his confidence in Bitcoin as a global reserve asset, although he acknowledged that the expected returns for corporate treasuries may not match the results of companies like Strategy. Even so, Ledn continues to expand its position in a market that demands resilience and transparency to gain the trust of institutional and retail investors.