The encryption lending company Ledn made history by issuing Bitcoin-backed bonds in the ABS market.

The encryption loan company Ledn Inc. has issued $188 million in securities-backed bonds supported by Bitcoin, becoming the first such transaction in the asset-backed bond market. According to sources familiar with the matter, the transaction includes two bonds, one of which is an investment-grade bond priced 335 basis points above the benchmark rate. Jefferies Financial Group Inc. acted as the sole structuring agent and bookrunner for this transaction.