According to Techub News, according to Decrypt, digital asset banking group Sygnum provided $50 million in Bitcoin mortgage loans to cryptocurrency lender Ledn. Ledn will use the funds to expand its retail loan business.
Sygnum and Ledn said this is the first time a regulated bank has issued a bitcoin-backed loan. With the loan, Ledn’s clients will have more flexibility to use bitcoin as collateral to access funds, the announcement said. Founded in 2017, Sygnum calls itself the world’s first digital asset bank, with more than $4.5 billion in assets under management. The bank has a Swiss banking license and a capital markets license that allows it to do business and lend in Singapore. It is also regulated in Abu Dhabi and Luxembourg.
