Ledger Partners with Morpho for Bitcoin-Backed Crypto Loans
Ledger users can now borrow stablecoins using wrapped Bitcoin as collateral while maintaining custody of their private keys.
- Ledger and Morpho launch Bitcoin-backed loans at TOKEN2049 Singapore.
- Users can borrow stablecoins without giving up private key control.
- Morpho platform's TVL stands at $11.3B, up 3.1% in the past week.
At the TOKEN2049 conference in Singapore, Ledger announced a new feature in partnership with 
Morpho that allows users to borrow stablecoins using wrapped 
Bitcoin as collateral. This service, called Morpho-powered Crypto Loan, enables users to leverage their Bitcoin holdings without selling them.
The key feature of this service is that users retain control of their private keys throughout the lending process, with final approval required on their Ledger hardware device. This adds a layer of security and control that is often absent in traditional crypto lending platforms.
According to DeFiLlama, Morpho's total value locked (TVL) is currently $11.3 billion, showing a 3.1% increase over the past week. This indicates a growing interest in decentralized lending platforms, despite the broader market downturn.
The current market context shows a mixed picture, with the total crypto market cap at $2.93 trillion and Bitcoin experiencing a 2.41% drop in the last 24 hours, currently trading at $39,952. The Fear & Greed Index stands at 71, indicating 'Greed' in the market.
This development is significant as it provides a new way for Bitcoin holders to access liquidity without relinquishing custody of their assets, which could attract more users to decentralized finance. The partnership also highlights the growing trend of hardware wallet providers integrating with DeFi platforms.
At today's peer-to-peer rate, 1 BTC ≈ ₦114.40M (about $83,775.00), down 2.5% over 24 hours. The naira itself trades about 2.8% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 7, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Bitcoin — questions
How much is 1 Bitcoin worth in naira today?
About ₦114.40M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $83,775.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.21% since this brief first published — trading at $83,775.00 now versus $83,952.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Decrypt. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.