The post Ledn secures $50 million Bitcoin-backed syndicated loan from Sygnum appeared on BitcoinEthereumNews.com.

Key Takeaways Ledn secures industry-first $50m Bitcoin-backed syndicated loan from Sygnum. Loan aims to bring liquidity to crypto sector and $1.38 trillion syndicated loan market. Digital lending platform Ledn announced it has secured a $50 million Bitcoin-backed syndicated loan from Sygnum, a global digital asset banking group. This industry-first loan will fund Ledn’s retail lending operations growth. Syndicated among Sygnum’s institutional clients, the loan aims to bring additional liquidity to both the crypto sector and the existing $1.38 trillion syndicated loan market. Ledn will use the funds to offer clients more flexible opportunities to access capital using their BTC holdings as collateral. “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,” stated John Glover, Chief Investment Officer at Ledn. The announcement adds that the collaboration aims to establish a precedent for traditional financial participants in the Bitcoin-collateralized lending market. “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,” commented Benedikt Koedel, Head of Credit and Lending at Sygnum. This partnership brings bank-level security to Ledn’s customers and demonstrates the company’s commitment to transparency and collaboration with top-tier financial institutions. Source: https://cryptobriefing.com/bitcoin-backed-syndicated-loan/

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Filed under: News - @ August 20, 2024 2:23 pm