Catenaa, Saturday, November 01, 2025- Centralized bitcoin lender Ledn reported record lending volume in the third quarter, generating $392 million in loans, nearly matching its total for all of 2024.
The milestone pushes the firm past $1 billion in bitcoin-backed loan originations for 2025 and over $100 million in annual recurring revenue.
Ledn’s co-founder and CEO Adam Reeds said the year’s performance highlights growing demand for bitcoin-secured credit and the company’s commitment to transparency.
The firm also released its 10th Proof of Reserves attestation, revealing a $836.2 million loan book with a 42.68% aggregate loan-to-value ratio, offering unprecedented insight into its collateralization practices.
Since its 2018 founding, Ledn has originated more than $2.8 billion in loans for clients in over 100 countries, allowing bitcoin holders to preserve assets without taxable events.
The company has focused exclusively on bitcoin since May, discontinuing ETH support and client asset lending to reduce third-party credit risk.
Ledn has survived volatile crypto markets by emphasizing compliance, maintaining a fully collateralized model, and conducting regular third-party audits.
Co-founder Mauricio Di Bartolomeo credited the firm’s resilience to sound risk management and prioritizing the security of clients’ assets.
The lender has become the largest retail bitcoin-backed lending platform, positioning itself as a transparent, long-term partner for investors seeking responsible growth rather than speculative returns.
