Lender Comparison
Strike vs Ledn
Side-by-side comparison of rates, custody models, and loan terms. Data verified May 16, 2026.
| Strike | Ledn | |
|---|---|---|
| APR (min) | 8.75% | 9.99% |
| APR (max) | 11.25% | 11.49% |
| Max LTV | 50% | 50% |
| Min loan | — | — |
| Max loan | No stated max | No stated max |
| Custody model | lender pool | lender pool |
| Rehypothecation | No | No |
| Funding speed | — | — |
| States | — | — |
Strike
Bitcoin-only loans with no origination fee. Collateral held by Strike or capital partners in segregated wallets — no named third-party qualified custodian. Proof-of-reserves published. $2.1B credit facility with Tether.
Full Strike 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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