Canadian cryptocurrency lending platform Ledn has introduced $188 million worth of bitcoin-backed loan notes to the traditional asset-backed securities market, Cointelegraph reported, citing Bloomberg News. The deal uses 4,078.87 bitcoin as collateral. Analysts quoted by Cointelegraph said the transaction shows bitcoin is increasingly accepted as safe and legitimate collateral by traditional financial institutions and that risks in such securitisations may be overstated. Ledn said it has originated more than $9.5 billion in loans across more than 100 countries since 2018.