PANews reported on February 19 that, according to Bloomberg, crypto lending company Ledn Inc. has sold $188 million worth of Bitcoin-backed securitized bonds, making it the first such transaction in the asset-backed debt market.

According to sources familiar with the matter, the deal involves two bonds, one of which is investment-grade and priced 335 basis points above the benchmark interest rate. The sources requested anonymity due to the undisclosed details.