Why lending platform Ledn will always be Bitcoin first

“Every crypto business was on fire in 2021,” recalls Ledn co-founder and CEO Adam Reeds, “then we went through this very tough period and had to work really, really hard to tell clients what we were doing differently and how things were working.”

“We became profitable at the beginning of 2024,” Adam smiles. “It’s been great to see. We have a better and bigger business today than we did in 2021.”

A Bitcoin-First Ethos

“Ledn is focused on ensuring that there are financial products for Bitcoin first,” Adam explains.

However, the company does support stablecoins Tether and USDC and recently conceded to broader demand for loans collateralized by alternative digital assets by adding Ethereum.

“Our premier product is Bitcoin and the core offer is our Bitcoin-backed loan. We allow clients to deposit Bitcoin with us and offer them liquidity so they don’t have to sell it.”

“There are tax planning advantages to loans in most jurisdictions,” Adam says, “but the most important thing is not selling an asset that you think is going to go up in value and you want to maintain for a long time.”

“We’re not trying to be everything to everyone. We’re trying to keep our core lending products and bring them to more people.” Ledn is a big proponent of quality over quantity. “One of the favorite sayings in the company is the best restaurants have the smallest menu. You don’t have to do too many things, you just do a few things right. I think that’s the best client experience.”

“I love traveling, meeting people, and learning about new cultures,” he enthuses. “To me, the way people use money is not for money, right? It’s like, how do they think about their future? What excites them? What are their goals? You get to learn about what people are working toward when you talk about financial services, and I get to have those conversations.”

“It’s really a sense of joy to learn about how people are successful in their financial journeys.”

The ‘Ultimate Equalizer’

“We’re open to other regions, and we’re here because we’re looking to expand into the Middle East and Asia,” he affirms. 

“For us, Bitcoin is the ultimate equalizer. It’s the ultimate financial fairness, and I love that because we can build the same financial products for everyone globally. It doesn’t care who you are, where you’re from, or what you do. It’s just Bitcoin.”

Riding the Bull Market Wave

“It’s been phenomenal,” Adam says. “The individuals always got it but I think what’s nice about this market is this time it’s the businesses, the institutions are getting it because they really see a for-profit model in it.”

“The space is still incredibly short dollars,” Adam says. “If you think about Bitcoin as a $2 trillion market cap today, the amount of retail loans on Bitcoin is probably around $1 to $2 billion, so it’s still so small. We need more dollars in the space to allow more people to take mortgages on Bitcoin, and we need that by institutions being able to lend those dollars to companies like Ledn to offer loans to retail.”

‘Institutional FOMO’ for Bitcoin

“I mean, it’s great, right?” he lights up. “Bitcoin became so polarized and it was brilliant of the Trump administration to really grab that voter base and move on. I think now a lot of businesses that wanted to be in the space but couldn’t risk taking it on until they had legal clarity are going to be able to come in.”

“I think we’re going to see institutional FOMO where several big banks are going to adopt it and everyone else will have to follow.”

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