Sygnum and Ledn Finalize $50 Million Bitcoin Loan Refinancing
Loan Finalization: Sygnum Bank and Ledn have completed a $50 million Bitcoin-collateralized loan refinancing, which was twice oversubscribed, indicating strong demand from institutional investors.
Tokenization and Distribution: Part of the loan was tokenized using Sygnum's Desygnate platform, allowing for onchain distribution to qualified investors, showcasing the integration of blockchain technology in finance.
Institutional Interest: The refinancing reflects a growing interest in Bitcoin-backed lending among institutions, as traditional financial yields decline and investors seek alternative credit products.
Focus on Bitcoin: Ledn emphasizes full custody Bitcoin loans, avoiding exposure to Ethereum and altcoins, while experts predict that this trend could expand the market for tokenized debt products.
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