Posted 12/7/2023, 5:03:45 PM
Swan Expands Bitcoin Services, Raises $40M to Offer Loans and Investment Funds Backed by Crypto
- Swan deployed over $200 million in 2023 to expand institutional offerings like Bitcoin-backed lending
- Swan raising $40 million in funding in 2023 and investing $205 million across ventures, private equity, a hedge fund, and a credit fund
- Swan moving into lending by allowing users to deposit Bitcoin as collateral for cash loans at low double-digit rates
- Swan dealing with issues related to its custody providers but aiming to launch a Bitcoin-only trust company in 2024
- Swan expecting over $200 million in annualized revenue in 2023 based on expanded institutional services