Summary
- Tether (USDT) announced it will invest in the Bitcoin-collateralized lending service provider Ledn.
- Tether said the investment shows its commitment to building infrastructure that enables individuals and businesses to access credit without selling digital assets.
- It said the crypto-collateralized lending market is expected to grow from 7.8 billion dollars in 2024 to more than 60 billion dollars in 2033.
The dollar stablecoin issuer Tether (USDT) is investing in the cryptocurrency lending firm Ledn (Ledn).
Tether said on the 18th (local time) that it had decided to invest in Ledn. Ledn is a Bitcoin (BTC)-based lending service company founded in Canada in 2018. Tether explained, "This investment demonstrates Tether's commitment to building real-world financial infrastructure that helps individuals and businesses access credit without selling digital assets."
Ledn is reported to have provided Bitcoin-collateralized lending services totaling 2.8 billion dollars (about 4 trillion won) since its founding. A Tether official said, "The crypto-collateralized lending market is expected to grow from 7.8 billion dollars in 2024 to more than 60 billion dollars in 2033," adding, "This is because demand is increasing for alternative lending solutions that can secure liquidity without selling digital assets."
Paolo Ardoino, Tether chief executive officer (CEO), said, "Together with Ledn, we will expand ways to access credit without selling digital assets," and added, "This approach will strengthen self-custody (custody) and financial resilience."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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