PANews reported on October 27th that Bitcoin lending institution Ledn has surpassed $1 billion in loan originations this year, issuing $392 million in BTC-collateralized loans in the third quarter. The company's annual recurring revenue reached $100 million. Ledn removed ETH lending in May, transitioning to a BTC-only product. As of the end of September, its outstanding loan book reached $836.2 million, with an average LTV of 42.7%. Ledn also published a certificate of reserves (issued by The Network Firm). Ledn attributes this demand to BTC holders collateralizing their BTC for liquidity. According to Galaxy Research, Ledn is the third-largest centralized lending institution, behind only Tether and Galaxy.PANews reported on October 27th that Bitcoin lending institution Ledn has surpassed $1 billion in loan originations this year, issuing $392 million in BTC-collateralized loans in the third quarter. The company's annual recurring revenue reached $100 million. Ledn removed ETH lending in May, transitioning to a BTC-only product. As of the end of September, its outstanding loan book reached $836.2 million, with an average LTV of 42.7%. Ledn also published a certificate of reserves (issued by The Network Firm). Ledn attributes this demand to BTC holders collateralizing their BTC for liquidity. According to Galaxy Research, Ledn is the third-largest centralized lending institution, behind only Tether and Galaxy.

                                                                               BitGo’s move creates further competition in a burgeoning European crypto market that is expected to generate $26 billion revenue this year, according to one estimate.                     BitGo, a digital asset infrastructure company with more than $100 billion in assets under custody, has received an extension of its license from Germany’s Federal Financial Supervisory Authority (BaFin), enabling it to offer crypto services to European investors. The company said its local subsidiary, BitGo Europe, can now provide custody, staking, transfer, and trading services. Institutional clients will also have access to an over-the-counter (OTC) trading desk and multiple liquidity venues.The extension builds on BitGo’s previous Markets-in-Crypto-Assets (MiCA) license, also issued by BaFIN, and adds trading to the existing custody, transfer and staking services. BitGo acquired its initial MiCA license in May 2025, which allowed it to offer certain services to traditional institutions and crypto native companies in the European Union.Read more