The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Ledn has originated more than $1 billion in loans in 2025, pushing annual recurring revenue above $100 million.
Ledn registered a record $392 million in lending volume for Q3 — almost matching its entire total for last year.
Primarily a crypto custodian, Anchorage said it is also planning to offer interest-bearing USD accounts in the coming months.
The platform will offer bitcoin, ether, Solana, and Paxos Gold trading and custody at launch, with more tokens to follow in the future.
Lava has also launched a new dollar yield product, currently offering up to 7.5% APY on loans backed solely by bitcoin collateral.
"The protocols launching today will define how value moves through the global economy tomorrow," said Anchorage Digital's Nathan McCauley.
The platform addresses gaps left following the collapse of Signature and Silvergate banks during Operation Choke Point 2.0.
Susquehanna Crypto also joined the round, backing Two Prime as it scales its crypto-native institutional offerings.
Grayscale has quietly filed for an IPO, seeking a listing on U.S. public markets amid a growing wave of filings from crypto companies.
Earlier this year, Ondo Finance launched a platform to give onchain exposure to U.S. securities such as stocks, bonds, and ETFs.
SoFi will reintroduce spot crypto trading and launch new crypto features after halting services in 2023 due to regulatory constraints.
Giancarlo, who chaired the CFTC from 2017 to 2019, has joined crypto bank Sygnum as an advisor to support its growth.
The platform is also discontinuing the lending of client assets to generate interest, eliminating third-party credit risk.
Bitdeer Technologies opened a $200 million credit facility earlier this month with Matrix Finance, also founded by Jihan Wu.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Xapo Bank hopes to attract people back to a sector hit hard following the collapse of centralized lenders like Celsius and BlockFi in 2022.