@purni
Bitcoin is increasingly being used as productive collateral.
Ledn has completed a $188M bond issuance backed by BTC, structuring the deal around Bitcoin-secured financing rather than traditional assets.
Moves like this highlight a growing shift: digital assets are not just being held they’re being integrated into structured credit markets.
As capital markets continue experimenting with BTC-backed instruments, the line between crypto-native finance and traditional fixed income keeps narrowing.
Utility evolves. Structure deepens.
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