Ledn's $188M Bitcoin-Backed ABS Securitization Receives Investment-Grade Rating from S&P.

Ledn, a crypto lending platform, has closed a $188 million asset-backed securities (ABS) issuance backed by its Bitcoin-collateralized retail loans. S&P assigned an investment-grade rating of BBB- to the senior notes, marking the first time a major credit rating agency has issued such a rating tied to a digital asset lending portfolio. The transaction was oversubscribed, with institutional demand exceeding the offering size. Ledn aims to link crypto-native lending to traditional fixed-income markets by packaging Bitcoin-collateralized loans into an ABS structure.