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Ledn
Ledn originated over $1B in bitcoin-backed loans by Q3 2025 without rehypothecating client collateral.
Ledn
Ledn is a financial services company founded in 2018 in Grand Cayman, Cayman Islands. It offers bitcoin-backed loans and B2X loans that allow users to borrow cash or increase their Bitcoin exposure using their holdings as collateral. Ledn's services cater to Bitcoin holders seeking liquidity without selling their assets.
General information
Firm type
Asset Manager
Year founded
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AUM
Undisclosed
Location
Region
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Country
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City
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Corporate office
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Principals
Adam Reeds
Founder & Chief Executive Officer
Mauricio Di Bartolomeo
Founder & Chief Sales Officer
John Glover
Chief Investment Officer
Sector focus
Frequently asked questions
Does Ledn rehypothecate the bitcoin posted as collateral?
No. Ledn does not lend out, stake, or rehypothecate client collateral. Bitcoin posted for a loan is held in segregated on-chain addresses verifiable by the client. Collateral may only be re-posted to an institutional funding partner, such as a bank or credit fund, and remains legally ring-fenced from that partner's assets even in bankruptcy.
How does Ledn fund the dollars it lends against bitcoin?
Ledn taps the asset-backed securities market. The firm pools bitcoin-collateralized loans and securitizes them, creating paper that institutional credit investors — including banks and credit funds — can buy. This structure divorces its lending capacity from crypto-exchange deposit bases or volatile stablecoin pools.
What loan terms and rates does Ledn offer?
Ledn's dollar-denominated bitcoin-backed loans start at an 11.9% APR for retail clients, with rates tiering down automatically to 9.99% for loans of $1 million or more. Loans carry a 12-month term with no monthly payments; borrowers repay principal and interest at maturity or early with no penalty.
Who runs investment and treasury decisions at Ledn?
The firm's Chief Investment Officer is John Glover. The treasury function is led by Chief Treasury Officer Carlos Ng. The Capital Markets department, which handles institutional partnerships, reports through this executive group, per Ledn's published leadership page.
How does Ledn's credit process differ from a traditional margin loan on a crypto exchange?
A margin loan on a typical crypto exchange permits the platform to rehypothecate collateral and issue automated liquidation calls. Ledn never rehypothecates BTC, gives borrowers a disclosed loan-to-value buffer, allows top-ups and auto-top-ups to manage LTV, and notifies clients well before any forced collateral reduction.
Which regulatory jurisdictions does Ledn operate in?
Ledn states that product availability varies by jurisdiction and directs potential clients to its eligibility page. The firm maintains a Chief Legal Officer and conducts KYC and application review, but does not publicly list its full licensing map or primary regulatory domicile.
Is Ledn a single-family office or a financial technology company?
Ledn is neither a family office nor a traditional bank. It operates as a bitcoin-backed lender and wealth-services platform — a hybrid that combines on-chain custody with institutional ABS funding. Its executive structure, with a CIO, CTO, Chief Legal Officer, and Capital Markets department, resembles an asset manager more than a fintech startup.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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