New Benchmark in Bitcoin-Backed Securities
A leading crypto lending platform has successfully completed the issuance of $188 million in bitcoin-secured bonds.
The transaction was split into two tranches, with the investment-grade portion carrying a spread of 335 basis points over the reference rate.
- Collateralized by approximately 4,078.87 BTC
- Fair market valuation pegged the collateral at $357 million
- Majority of bonds rated BBB- by credit agency
This digital asset-focused financial services provider has originated billions of dollars in crypto-secured loans since its inception.
Industry Partnerships and Capital Support
Last November saw strategic investment from a prominent stablecoin issuer, underscoring confidence in crypto lending models.
Deal structuring and book management were handled by Jefferies Financial Group, a respected name in global finance.