Bitcoin-backed loans hit Wall Street — sub-prime-style incentives, but with liquidation triggers
Ledn’s $188 million securitization marks the second Bitcoin-backed shopper credit score began trying like mainstream asset-backed debt. Ledn Issuer Trust 2026-1 packages 5,441 fixed-rate balloon loans into rated, tradable notes with investment-grade and subordinated tranches, custody preparations, liquidity reserves, and all of the structural scaffolding that permits institutional buyers to purchase Bitcoin-linked yield with out…
