- Sygnum and Ledn finalize $50M Bitcoin loan.
- Loan was twice oversubscribed.
- Some of the loan tokenized for investors.
Sygnum Bank and Ledn finalized a $50 million Bitcoin-collateralized loan refinancing, which was oversubscribed and tokenized partially via Sygnumโs Desygnate platform. The loan reflects high demand for Bitcoin-backed credit products among institutional investors.
The refinancing signals rising institutional interest in Bitcoin-backed lending as it enables broader onchain distribution, according to Sygnum.
The $50 million Bitcoin-collateralized loan refinancing by Sygnum and Ledn was completed, reportedly being twice oversubscribed and partially tokenized using Sygnumโs Desygnate platform. This indicates a strong demand for institutional Bitcoin-backed credit.
Swiss-based Sygnum, a regulated crypto bank, partnered with Ledn, which specializes in Bitcoin-secured credit, for this refinancing endeavor. Sygnumโs Desygnate platform facilitated the tokenization aspect, allowing onchain distribution to qualified investors.
โTokenized private credit deals are issued onchain to qualified investors through our Desygnate platform.โ โ Mathias Imbach, Group CEO, Sygnum Bank
The oversubscription indicates robust interest from institutional investors and family offices. The refinancing underscores the marketโs appetite for Bitcoin-backed lending, as traditional financial yields flatten.
Avoids Ethereum and altcoin collateral exposure as Ledn focuses on full custody Bitcoin loans. The model showcases Bitcoinโs prominence as collateral, with Sygnum prioritizing tokenized private credit deals.
Experts see promising financial and technological outcomes from this trend. By bridging private credit with Sygnumโs platform, the market for tokenized debt products could expand, highlighting a move towards Bitcoin-centric finance.
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