Lender Comparison
Arch (Deferred) vs Ledn
Side-by-side comparison of rates, custody models, and loan terms.
Rate data verified May 23, 2026 · Updated weekly
Arch (Deferred) and Ledn side by side
| Arch (Deferred) | Ledn | |
|---|---|---|
| APR (min) | 8% | 9.99% |
| APR (max) | 10.99% | 11.49% |
| Max LTV | 60% | 50% |
| Min loan | — | — |
| Max loan | No stated max | No stated max |
| Custody model | qualified custodian | lender pool |
| Rehypothecation | No | No |
| Funding speed | — | — |
| States | — | — |
Key differences
On posted APR, Arch (Deferred) starts lower (8% vs 9.99%); whether that's the better deal depends on loan size and origination fees — both folded into the effective APR figures in our table above. Custody differs: Arch (Deferred) uses qualified custodian, Ledn uses lender pool — a meaningful distinction for any borrower who weighs counterparty risk against rate. Arch (Deferred) offers a higher maximum LTV (60% vs 50%), which means more buying power per BTC pledged but a narrower buffer before liquidation if Bitcoin's price falls.
About each lender
Arch (Deferred)
Bitcoin-backed loan with Anchorage Digital qualified custody, segregated wallets, $100M Lloyd's of London insurance, and explicit no-rehypothecation policy. The Deferred Interest variant (launched May 2026) carries no monthly payments — interest accrues to maturity or rolls into the next loan.
Full Arch (Deferred) review →Ledn
Operating since 2018; + originated. Two custody options at identical rates: Standard (collateral pooled and re-lent) or Custodied (collateral held securely, not re-lent to generate interest). Rates tiered 9.99%%–11.49%% by loan size, plus 2%% admin fee. Investment-grade BBB- ABS issuance March 2026. Tether strategic investment Nov 2025.
Full Ledn review →Compare all 15 lenders
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Open comparison tool →borrowonbitcoin.com is a comparison publisher, not a lender or financial advisor. Data verified weekly. Full disclosures.