PANews February 19 News, according to CoinDesk, the crypto lending company Ledn announced the completion of its first asset-backed securities (ABS) transaction collateralized by Bitcoin, with a financing scale of $188 million, setting a precedent for the crypto lending market. The report states that this transaction packaged and issued bonds backed by over 5,400 Bitcoin-backed personal loans, with an average weighted interest rate of 11.8%. The ABS uses the underlying loan cash flows as the repayment source, and investors receive corresponding returns through the bonds.
The issuance is divided into two tranches, with the investment-grade portion priced at 335 basis points above the benchmark rate. Jefferies served as the exclusive structuring agent and bookrunner for this deal. Given Bitcoin’s significant price volatility (with a maximum drawdown of about 50% in the past four months, dropping to $60,000), the structure incorporates an automatic collateral liquidation mechanism that enforces forced liquidation when risk thresholds are reached, protecting investors during periods of market turbulence. Industry experts believe that this issuance marks the first time Bitcoin-backed loans have entered the traditional asset securitization market framework, providing a new pathway for the integration of crypto credit assets with mainstream capital markets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC Dominance Rising, SMAs Bearish — Top 5 Coins to Watch While the Market Waits
The altcoins are still below the major moving averages indicating low overall market momentum.
The increasing Bitcoin dominance still restricts capital flows into altcoins.
Before anticipating a lasting increase in the altcoins, technical confirmation is still important.
The
CryptoNewsLand29m ago
Bitcoin Spot ETFs See $331.9M Net Inflows, BlackRock IBIT Leads with $246.9M
Gate News message, April 23 — Bitcoin spot ETFs recorded net inflows of $331.9 million yesterday (April 22), according to Trader T. BlackRock's IBIT led all funds with $246.9 million in inflows, accounting for approximately 74% of total daily inflows.
Fidelity FBTC added $56.69 million, Bitwise BIT
GateNews1h ago
Whale Address "Strategy Counterparty" Opens 166.1 BTC Short at 40x Leverage After $10M Loss
Gate News message, April 23 — A whale address known as "Strategy Counterparty" continued building a 40x leveraged short position on Bitcoin today, opening 166.1 BTC shorts worth approximately $12.97 million at an average price of $78,268, according to Hyperinsight monitoring. The liquidation price s
GateNews1h ago
BlackRock’s IBIT saw nine consecutive days of net inflows, with holdings reaching 806700 BTC
According to a post on X by Lookonchain on April 22, BlackRock’s iShares Bitcoin Trust (IBIT) holds 806,700 BTC as of the latest data, with a market value of approximately $63.7 billion, setting a new all-time high for the fund’s holdings. At the same time, MicroStrategy (Strategy) holds 815,061 BTC.
MarketWhisper1h ago
Gold and Silver Slip Slightly, Oil Rises; Bitcoin and Ethereum Volatility Indices Decline
Gate News message, April 23 — Gold prices fell to $4,731.95 per ounce with a daily decline of 0.18%, while silver dropped to $77.585 per ounce, down 0.13% intraday. Bitcoin volatility index (BVIX) stood at 43.64, declining 1.80%, and Ethereum volatility index (EVIX) reached 63.90, down 5.19%.
In
GateNews1h ago
