![\"Ledn](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDEvMDE5YmVkNGMtYjkxNS03YWNlLTljM2EtMjhmYjU3OTI3NzYyLmpwZw==.jpg\")
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The Bitcoin lender reportedly packaged thousands of Bitcoin-backed consumer loans into rated bonds, giving investors a new way to take crypto\u2011linked risk without holding BTC.<\/p>\n
Bitcoin-backed loan platform Ledn has sold about $188 million of bonds tied to Bitcoin\u2011collateralized consumer loans into the mainstream asset\u2011backed securities (ABS) market, Bloomberg reported on Wednesday, citing people familiar with the matter.\u00a0<\/p>\n
In a first-of-its-kind deal, one of the two tranches \u2014 the investment\u2011grade portion \u2014reportedly<\/a> priced at a spread of roughly 335 basis points over a benchmark rate, implying that investors are demanding 3.35 percentage points in extra yield to hold crypto\u2011linked credit risk rather than conventional consumer ABS.<\/p>\n The deal is structured through Ledn Issuer Trust 2026\u20111, which securitizes a pool of 5,441 short\u2011term, fixed\u2011rate balloon loans extended to 2,914 US borrowers, backed by 4,078.87 Bitcoin (BTC<\/a>) held as collateral, according<\/a> to S&P Global Ratings\u2019 preliminary documentation on Feb. 9. <\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n