Ledn Co-Founder: Bitcoin-Backed Loans Set to Become Much Cheaper Worldwide

Key points to know:

• The Trump administration's positive approach to crypto is expected to have a major impact on the global bitcoin lending market over the next four years.

• Ledn co-founder Mauricio Di Bartolomeo forecasts a rise in bitcoin-backed loans, with interest rates becoming more competitive with traditional credit options.

• The U.S. SEC's decision to retract a restrictive accounting rule is clearing the path for large banks to enter the crypto lending market.

The Trump administration's positive stance toward the crypto industry is expected to significantly transform the Bitcoin (BTC) lending market over the next four years, according to Mauricio Di Bartolomeo, co-founder of Ledn, a company specializing in digital asset loans.

“You’re going to witness a rapid expansion of bitcoin-backed loans, as the rates are going to fall to a level that makes them competitive with home equity or personal lines of credit, or other financial products,” Di Bartolomeo said in an interview.

The key factor, he explained, is that these rates will decrease not just in the U.S., but globally, due to bitcoin’s nature as a digital asset. “Gold in a vault in Switzerland isn’t the same as gold in a vault in Venezuela, but bitcoin in Colombia is bitcoin in Madrid and everywhere else. As an underwriter, I have uniform collateral,” Di Bartolomeo added.

In practical terms, this means that investors in developing countries, who may lack the same financing options as those in Western countries, will soon have access to high-quality financing at reasonable rates, Di Bartolomeo explained.

This change is driven by the fact that large banks are now prepared to enter the crypto lending market, following the U.S. Securities and Exchange Commission's (SEC) decision to reverse SAB 121, a restrictive accounting rule that made it difficult for firms to manage crypto assets.

Di Bartolomeo pointed out that crypto lending has been limited in the U.S. until now, making the market less competitive. "Right now, it’s a seller’s market. We are lending fully collateralized dollars at rates over 12.5%, with no losses over seven years. Banks will see these returns and say, ‘This is a great rate.’ One bank might offer 12%, another 10%, and another 9%. These rates will keep coming down," he said. "This shift will greatly benefit consumers."

Born and raised in Venezuela, Di Bartolomeo joined the crypto world in 2014, during a time when the country was struggling with hyperinflation and the rise of Nicolás Maduro. While many of his friends were looking to leave the country, his brother took advantage of the nation’s affordable energy to profit from bitcoin mining.

The family got involved in the business, followed by some acquaintances, but they faced the challenge of financing their operations—each mining rig costing thousands of dollars. Di Bartolomeo (who had studied in Ontario) found that miners in Canada faced the same problem. This realization led him and co-founder Adam Reeds to launch Ledn in 2018.

"Miners had expenses, and their revenue was in bitcoin. They wanted to keep a significant portion of their treasury in bitcoin due to its success. But they needed a way to maintain their bitcoin holdings while still accessing the fiat necessary to cover expenses," Di Bartolomeo explained.

By 2025, Ledn had expanded its offerings to include products such as bitcoin loans, bitcoin yield accounts, stablecoin growth accounts, and ether (ETH) backed loans—a comprehensive wealth management suite, according to Di Bartolomeo. These loans also serve as a tax-efficient method of obtaining liquidity. Ledn’s client base includes high-net-worth individuals early to Bitcoin, businesses, and funds. Since its launch, Ledn has issued $9 billion in loans.

Although based in Canada, Ledn was among the first lending companies to offer services in Spanish, which helped it establish a market in countries like Mexico, Colombia, Venezuela, and Spain, while competitors like BlockFi, Voyager, Celsius, and Genesis focused on the U.S. market. When those firms collapsed in 2022, Ledn was one of the few companies left standing and expanded organically in the U.S.

Now that major banks are entering the space, Di Bartolomeo believes the market is set to expand significantly, and that Ledn is well-positioned to capture a portion of it.

“Ledn will have a seat at the table, no matter how things unfold, as long as we continue to do our job, and that’s what excites me. How big the seat is, though—we know the table is going to be huge, and there will be plenty of opportunities. As long as we’re in the room, we’ll be satisfied.”