Tether completes strategic investment in Ledn

On November 14, 2025, Tether completed a strategic investment in 21 Technologies Inc. and its subsidiaries (collectively, “Ledn”), aligning a global leader in consumer bitcoin-backed lending, Ledn, with the issuer of the largest stablecoin in the world, Tether. This strategic partnership positions Ledn to further expand credit access across retail and institutional markets as demand for bitcoin-backed lending accelerates, while providing smoother and more efficient USDT flows for loan disbursements, repayments, and trades.

Ledn is headquartered in the Cayman Islands and is a global financial services company specializing in digital asset-based solutions.

Tether, based in El Salvador, is the issuer of USDT and is the largest company in the digital asset ecosystem.

McCarthy Tétrault advised Ledn with a team led by Philip Marcu (Business) and Lori Stein (Fintech) that included Aathmika Kularatnam, Nicholas Geringer (Business), and Somaya Amiri (Articling student).

Walkers (Cayman) LLP acted as Cayman counsel to Ledn.