PANews reported on August 1 that according to CoinDesk, the crypto lending platform Ledn said on Thursday that the company processed more than $1.16 billion in digital asset loans in the first half of 2024. The company said in a press release that recent events such as the Bitcoin halving and the launch of the Ethereum ETF in Asia have driven growing demand for the company's services in the second quarter. Of the total $1.16 billion in loans, institutional client loans accounted for $969 million. In January of this year, the United States approved a spot Bitcoin ETF, followed by a rise in the price of Bitcoin, the world's largest cryptocurrency, which stimulated institutional clients to adopt the technology and enabled Ledn to process hundreds of millions of dollars in ETF market maker loans.
Ledn said that in terms of demographics, North America ranked first in retail loan volume with $17.6 million in the second quarter, while Latin America ranked second in terms of the number of retail customers. The company said that cryptocurrency adoption has boomed in Latin American countries in recent months due to economic pressures, political unrest and other reasons. The company pointed out that more and more customers are using digital asset-backed loans for tax reasons, as borrowing against cryptocurrencies is generally tax-exempt.
