A Safer, Simpler, and Bitcoin-Focused Future

At Ledn, our mission has always been simple: Help bitcoin holders access safe and transparent financial services without ever compromising their bitcoin. We have always been guided by three principles:

1. We are obsessed with simplicity.
2. We put client security above all else.
3. We believe bitcoin will transform asset-backed lending

These principles helped us grow from humble beginnings into the largest retail bitcoin-backed lender globally by volume.

Bitcoin-backed lending is what we do, what we do best, and soon, all we do. We survived when others failed thanks to the principles stated above, and we are committed to leading the way forward.

That’s why, effective July 1, 2025, we will:

Why are we making these changes?

In short, to provide you with an even better bitcoin-backed loan experience.

Today, over 95% of Ledn loan clients use bitcoin as collateral, and our clients have been clear that they want even more clarity about how Ledn keeps their assets secure. We are doubling down on what our clients value most: A safe, simple, and secure way to access liquidity with their bitcoin.

We are also removing any ambiguity about how your bitcoin collateral is treated. This means removing all institutional lending of client collateral to generate interest. Client collateral will *never* be exposed to institutional lending risk.

There are two more important upgrades coming this summer:

🔐 Better Collateral Control

We believe you should be in control of your bitcoin when your LTV is healthy. We’ll make it even easier to reclaim back some of your bitcoin, while still keeping your loan healthy. This means clients will be able to redeem more of their collateral, more often.

📉 Best In Class Rates

This year we have already brought our Custodied loan rates down from 14.9% APR to 13.4% APR, and as of May 27th, our new Custodied loan rate is 12.9% APR. As we have done from the beginning, you get the convenience of no monthly interest payments, and can repay the loan at any time, without any penalty.

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‍Focused on the Future

With these changes, Ledn is positioned to safely scale our core loan business beyond the $550M loan book backed by over $1.35B of bitcoin collateral that we manage for our clients today — as we grow, we are working to bring you lower rates via better access to capital.

We understand that change can bring questions. We have prepared a detailed FAQ to address everything you need to know about these updates. You can see it here.

Thank you for being a part of the Ledn community. We are excited about this next chapter and our unwavering commitment to building the best bitcoin-backed lending platform for you.

Onward and upwards,

Adam & Mauricio