**Crypto Lending Platforms See Major Growth in 2024**

Lending platforms are booming this year! Ledn, a decentralized lending and savings firm, reported a $1.65 billion increase in loans compared to last year. In Q3 2024 alone, they processed over $437 million in digital asset loans to institutions, up 14% from the previous quarter. This surge is driven by tighter monetary policies and fierce competition for dollar funding.

John Glover, Ledn’s CIO, noted a steady rise in institutional demand since July. Since its 2018 launch, Ledn has facilitated over $6.5 billion in loans across retail and institutional markets.

Meanwhile, Tether is eyeing lending to commodity traders, Grayscale is considering 35 new crypto products, Ripple announced partners for its RLUSD stablecoin, and Thailand’s SCB is launching stablecoin remittance services.

Stay tuned for more updates on the ever-evolving crypto landscape!