21 BTC

Borrowing against bitcoin

Rates and terms of BTC-backed loans. Borrowing against BTC can lead to liquidation if the price falls: read the terms first.

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Bitcoin-backed credit

Where Bitcoin-collateral loans/credit are offered publicly · banks first · snapshot · not an offer

fixture2026-09-28 08:19 BST

Snapshot only — not an offer or advice. Rates, LTVs and eligibility change by jurisdiction/KYC. We never invent numbers; missing fields show «see site».

Banks

Xapo Bank
bank · high
site →
USD credit/line against BTC
LTV
up to 40% (borrowing ratio)
Rate
on page: ~10.5% variable (see current terms in the app)
Jurisdictions
Gibraltar (GFSC credit institution)
Custody
BTC in Xapo vault; no rehypothecation (per bank statement)
Collateral
BTC

Minimum 0.1 BTC; min loan $1k, max up to $5M on page. Margin call ~65%, liquidation ~80% (FAQ).

as_of 2026-09-28 · retail members (not UK / not Australia for lending)
Sygnum Bank
bank · high
site →
Lombard loan / credit line against digital assets
LTV
see on site
Rate
see on site / via RM
Jurisdictions
Switzerland · Singapore · ADGM (UAE)
Custody
collateral in Sygnum custody; off-balance sheet, bankruptcy-remote, no rehypothecation (per statement)
Collateral
BTC, ETH, USDC, others (see site)

Swiss banking licence. Credit-line approval usually <1 business day for clients. Public page does not fix LTV/rate — see site / RM.

as_of 2026-09-28 · private qualified + institutional clients
AMINA Bank (ex-SEBA)
bank · high
site →
Loans against crypto and traditional assets
LTV
see on site (rate depends on LTV and tenor)
Rate
see on site / contact — depends on LTV and tenor
Jurisdictions
Switzerland
Custody
collateral at AMINA; segregated / bankruptcy-remote
Collateral
BTC, ETH, SOL, XRP, etc., traditional assets

Does not promote products outside CH; access is client-initiated. Min tranche CHF 100k.

as_of 2026-09-28 · individuals + corporates; min loan CHF 200,000 (or equivalent)

Lenders / platforms

Ledn
licensed lender (not a bank) · high
site →
BTC-backed loans (custodied)
LTV
typically 50% initial LTV
Rate
public APR tiers on page (e.g. from ~11.49% to ~9.25% by size) — see current on site
Jurisdictions
Canada-founded; availability by country (100+); check eligibility
Custody
custodied; BitGo mentioned in third-party comparisons; ring-fenced / not lent for yield (per Help Center)
Collateral
BTC

Not a bank. Availability and minimums depend on jurisdiction. Liquidation ~80% LTV (Help Center).

as_of 2026-09-28 · retail / private wealth; min $500
Unchained
licensed lender (not a bank) · high
site →
Commercial BTC-backed loans
LTV
example CTP 200% (~50% LTV) on calculator — see on site
Rate
example rates/APR on page; current — pricing page
Jurisdictions
United States (commercial; state licensing / NMLS)
Custody
2-of-3 multisig (borrower + Unchained + Fortis Bank); no rehypothecation
Collateral
BTC

Not a bank (NMLS licences). US commercial loans only; not a consumer loan for resident individuals.

as_of 2026-09-28 · US business entities only; min $150,000
Coinbase Borrow (Morpho)
regulated platform / on-chain (not a bank) · high
site →
USDC loans against crypto via Morpho (Base)
LTV
liquidation at LLTV 86% (Help); starting LTV — see in app
Rate
variable; rate in app (Coinbase fee on top of market) — see on site/in app
Jurisdictions
United States (excl. New York); expansion TBD
Custody
BTC converts 1:1 to cbBTC and is held in the Morpho smart contract
Collateral
BTC (→ cbBTC), ETH, other eligible

Not a classic bank loan. On-chain Morpho protocol; gas fees sponsored. Proceeds cannot be used to trade on Coinbase (ToS).

as_of 2026-09-28 · verified US customers (excl. NY); up to $5M USDC against BTC (blog May 2026 update)
Two Prime Lending
institutional lender (not a bank) · high
site →
Institutional BTC-backed credit
LTV
see on site (conservative / over-collateralized)
Rate
see on site / on request (institutional terms)
Jurisdictions
United States (SEC RIA / CFTC CTA affiliate; lending via Two Prime Lending Limited)
Custody
qualified custodians; segregated; no rehypothecation; cold storage (per statement)
Collateral
BTC

Not a retail product. Public landing does not fix LTV/rates — contact. Large deals (e.g. MARA) appear in press, but deal terms are not public.

as_of 2026-09-28 · corporate treasuries, miners, family offices, RIAs — institutional
Figure / Figure Markets
licensed lender (not a bank) · medium
site →
Crypto-backed loan (BTC/ETH/SOL)
LTV
see on site
Rate
see on site (public FAQ did not give a stable rate at check time)
Jurisdictions
United States (check eligibility)
Custody
MPC / platform custody — see disclosures on site
Collateral
BTC, ETH, SOL

Client config showed WINDDOWN_DATE 2026-09-23 at check time — product may be winding down; re-check before relying on it.

as_of 2026-09-28 · US retail/eligible — verify residency
Gaps / not included
  • Bank Frick (LI) — Official FAQ: «Bank Frick does not lend against cryptocurrencies.» DIFC branch can arrange credit under DFSA, but that is not a public retail BTC-loan product of LI HQ. source
  • Russian banks — No public Russian-bank offers of BTC-collateral loans found; we do not invent. Global product — see international banks/lenders above.
  • Anchorage Digital Bank — US federal crypto bank; publicly known as a custodian. A retail BTC-loan product on its own pages was not confirmed as a direct bank loan at check time (partner/on-chain channels like Mezo may exist) — not listed as a direct bank BTC loan without a primary page. source
  • No Russian banks with public BTC-collateral lending found.
  • Bank Frick (LI) states it does not lend against crypto.
  • Sygnum/AMINA/Two Prime often publish LTV/rates only via RM — UI shows «see on site».
  • Figure Markets: possible wind-down (config) — re-check.
  • Products depend on KYC/jurisdiction and can change without notice to our snapshot.
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