Ledn

Canada (Cayman registered)

CeFi BTC-backed loans (USD or USDC) with collateral in BitGo Trust cold storage; SOC 2 and semi-annual Proof-of-Reserves. Fixed 12-month term, ~50% LTV; alerts at 70/75% and liquidation at ~80%

Product Details

Interest Rate (APR)

12.4%

Loan-to-Value (LTV)

50%

Loan Term

12 months

Liquidation LTV

80%

Loan Amount

$1,000 - $1,000,000

Custody Model

CeFi

Custodian

BitGo

Client Multisig

Rehypothecation

KYC Required

Yes

Loan Currencies

USDC, USD

Collateral Types

BTC

Availability & Requirements

Available globally with restrictions. Not offered in certain U.S. states (e.g., CA, CT, HI, LA, NV, ND, SD, TN, VT, WA, DC) and some Canadian provinces (e.g., NB, NS, SK, QC); check Ledn's website for latest availiblity