Advising Ledn on strategic investment from Tether, boosting bitcoin-backed lending

Our Fintech and Corporate teams advised Ledn on a strategic investment in the bitcoin-backed lender by Tether.

Ledn is one of the global market leaders in consumer bitcoin-backed loans.  In 2025, Ledn has reported originating more than $1bn in loans with $392m issued in the third quarter alone. 

Tether is a stablecoin issuer and fintech platform, and the largest company in the digital asset ecosystem.

The partnership between Ledn and Tether could impact how collateralised crypto loans evolve, with Ledn's operational experience and focus on consumer products coming together with Tether's stablecoin offerings.

The Walkers team was led by partners Melissa Lim and Lucy Frew, supported by senior counsel Sam Francis, and associates Sam Currie, Charlie Griffiths and Justin Wretham.

McCarthy Tétrault LLP acted as Canadian counsel to Ledn.