Tether Invests in Ledn to Expand Bitcoin-Backed Lending Amid Surging Demand

Tether has announced a strategic investment in Ledn, a leading provider of bitcoin-backed consumer loans, aiming to enhance access to credit secured by digital assets. This investment comes as Ledn has originated over $2.8 billion in loans since its inception and achieved over $1 billion in originations just this year. The bitcoin-backed lending market is anticipated to grow significantly, with a projected increase nearly eightfold by 2033, driven by the rising demand for liquidity without the necessity of selling digital holdings. Tether's CEO, Paolo Ardoino, emphasized that this investment signifies a commitment to promoting financial empowerment through self-custodial credit. Ledn has successfully navigated the difficult crypto landscape following failures of major firms in 2022, focusing on streamlining operations to better meet market needs.

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