# Tether Invests in Bitcoin Loans Bigwig Ledn

*Author: Jack Inabinet*
*Published: Nov 18, 2025*
*Source: https://www.bankless.com/read/news/tether-invests-in-ledn-bitcoin-backed-loan-originator*

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Tether is extending its role in BTC credit markets with a strategic investment in Ledn, one of the top global players in bitcoin-backed lending.

### What's the Scoop?
- **Credit Push:** Tether (the world’s largest stablecoin issuer) has made an undisclosed strategic investment into Ledn, evidence of its deeper push into real-world credit markets powered by crypto collateral.
- **Lending Surge:** Ledn has originated over $2.8B in BTC-backed loans since launch, including more than $1B in 2025 alone. Ledn originated $392M in Q3 2025 alone, nearly matching its entire 2024 volume, while annual recurring revenue has climbed past $100M.
- **Market Expansion:** Crypto-backed lending is projected to jump from $7.8B in 2024 to more than $60B by 2033, setting the stage for a major crypto credit market expansion.
- **Strong Alignment:** Tether sees the partnership as a way to scale credit access without forcing borrowers to sell BTC, reinforcing self-custody and long-term asset ownership.

### What's the Take?
Tether already uses its ability to freely mint dollars to extend credit against crypto collateral. According to Tether's latest [reserve attestation](https://tether.io/news/tether-attestation-reports-q1-q3-2025-profit-surpassing-10b-record-levels-in-us-treasuries-exposure-accelerating-usdt-supply-amidst-worlds-macroeconomic-uncertainty/) dated October 31, 2025, its USDT stablecoin was  7.7% collateralized with "secured loans."

By investing in Ledn, Tether gains to increased access to BTC borrower demand, potentially facilitating the creation of new USDT against BTC-backed loans. 

[https://x.com/hodlwithLedn/status/1990799717354385712](https://x.com/hodlwithLedn/status/1990799717354385712)