Ledn vs SwissBorg

Ledn4.1/5

VS

SwissBorg3.6/5

Feature	LednVisit	SwissBorgVisit
Ratings
Our score	4.1/5	3.6/5
User rating	No reviews yet	No reviews yet
Rates	3.5	3.5
Security	4.5	3.5
Transparency	4.5	4.0
Flexibility	3.5	3.5
Support	4.0	3.5
Specs
KYC required	Yes	Yes
Products	Crypto-backed loans	Savings / earn
Highest advertised APY	Not disclosed	15%
Max loan-to-value	50%	Not disclosed
Loan APR from	9.25%	Not disclosed
Supported assets	5	400
Available in	Global, Canada, United States, Latin America, Europe (EEA), Asia-Pacific, Middle East, Africa	Europe (EEA), Canada, Latin America, Asia-Pacific, Africa
Proof of reserves	Yes	Yes
Licenses & registrations	Cayman Islands VASP registration (CIMA)	MiCA
Flexible (withdraw any time)	Yes	Yes
Fixed terms	Yes	Not disclosed
Company
Founded	2018	2017
Headquarters	Canada	Switzerland
Investors	Tether	Community Investors
Strengths and weaknesses
Pros	100% BTC collateral in custody as of September 1, 2026 Bitcoin-backed APRs advertised from 9.25% Early repayment has no penalty on standard loans Monthly reports disclose assets, liabilities and loan metrics	Authorized under the European Union MiCA regulatory framework by the French AMF Advertises yields reaching up to 15% annually on supported assets Secures balances using institutional MPC technology without exposing private keys Publishes regular Proof of Liabilities reports for balance verification
Cons	Centralized counterparty and insolvency exposure remains Bitcoin price declines can trigger top-ups or liquidation Product availability varies by jurisdiction Loan terms are fixed at 12 months	Requires mandatory identity verification with no service for US residents Experienced a $41M SOL Earn exploit in September 2025 via staking partner Kiln Withdrawals carry a 0.10% fee in addition to blockchain network gas Top trading fee discounts require locking native BORG tokens
Best for	Bitcoin holders borrowing cash, Long-term BTC collateral users, Borrowers needing USD liquidity	European retail crypto investors, Hands-off earn strategy allocators, Long-term dollar-cost averagers

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