Swan’s Strategic Expansion into Bitcoin-Backed Lending Amid Crypto Turbulence

This year took a toll on the crypto industry, but Bitcoin emerged victorious with a strong rally. Swan, a prominent Bitcoin-focused financial firm, is expanding its services to include institutional products like Bitcoin-backed lending. With a $40 million funding for expansion and $125 million for its own venture and private equity investments, Swan, founded by Cory Klippsten in 2019, aims to offer a secure alternative in an industry marked by failures.

Despite controversies with custody providers like Prime Trust and Fortress, Swan is collaborating with BitGo to launch a Bitcoin-only trust in the U.S., emphasizing a separation between brokerage and custody. The firm is set to introduce a lending service, distinct by its avoidance of rehypothecation and exclusive focus on Bitcoin-backed loans. Klippsten anticipates robust growth, eyeing another $150 million fundraising in 2024, as Swan’s revenue climbs towards $200 million in the first quarter of the upcoming year.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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