【Ledn and Sygnum Complete $50 Million Bitcoin Loan Refinancing】According to Golden Finance, digital asset lending platform Ledn has completed a $50 million Bitcoin-backed loan refinancing in collaboration with Swiss crypto bank Sygnum. The financing amount is equivalent to the same loan in 2024, but the new financing subscription volume is twice the original plan, indicating an increase in investor demand for Bitcoin-backed credit products. Some loans have been tokenized through Sygnum's Desygnate platform, allowing them to be distributed as on-chain investment products to qualified investors. Industry data shows that the on-chain private credit market has become the largest and fastest-growing segment in asset tokenization, currently valued at approximately $15.6 billion, accounting for 58% of the tokenized real asset market.