TechFlow News, February 19: According to The Block, cryptocurrency lending platform Ledn sold $188 million worth of Bitcoin-backed bonds, with Jefferies Financial Group serving as structuring agent and bookrunner. The bonds are divided into two tranches; the investment-grade tranche priced 335 basis points above the benchmark rate and is collateralized by approximately $356.9 million worth of 4,078.87 BTC. S&P Global assigned a BBB- rating to the majority of these bonds.
It is reported that Ledn has issued billions of dollars in loans since its inception and received an investment from stablecoin giant Tether last November.
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