Crypto Lending Firm Ledn Offers Low-Risk Custodied Loans

Cryptocurrency lending company Ledn is offering customers crypto-backed loans where all the assets remain locked up with a qualified custodian, as the company adapts its centralized finance approach to a post-FTX world. Ledn has done a brisk trade in standard loans to date, where bitcoin (BTC) posted as collateral can be further lent out to subsidize the loan. The firm has processed some $635 million of retail loans backed by Bitcoin, and over $4 billion on the institutional side. Last year’s meltdown of non-transparent crypto companies has brought a de-risk reckoning to the digital asset space. Ledn, which managed to avoid client losing any money amid the collapse of firms like FTX.

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