Tether, the issuer of a major stablecoin, has made an undisclosed investment of up to $50 million in the cryptocurrency lending platform Ledn. The deal values Ledn at approximately $500 million, according to sources familiar with the transaction.
Tether, known for issuing the USDT stablecoin, has reportedly invested up to $50 million in Ledn, a platform specializing in cryptocurrency lending services. This previously undisclosed deal places a $500 million valuation on Ledn, as confirmed by a person familiar with the transaction.
The investment highlights ongoing interest from stablecoin giants in bolstering crypto lending infrastructure amid a recovering market. Ledn, which offers services like Bitcoin-backed loans, benefits from this capital infusion to potentially expand its operations. Tether's move underscores its strategy to deepen ties within the crypto ecosystem, though specific terms of the investment remain private.
No further details on the timing or structure of the deal have been released publicly, but it reflects confidence in Ledn's growth potential at a time when crypto valuations are stabilizing.
