Ledn says bitcoin-backed lending could grow into a $1 trillion consumer market over the next decade, arguing that demand is already in place even as borrower trust remains the sector’s biggest constraint.

The forecast comes from new research conducted with Protocol Theory, which surveyed 1,244 cryptocurrency holders in the United States and Australia. The study found that 88% of respondents would consider using a crypto-backed loan or credit product, while only 14% currently do. Ledn described that as a six-to-one gap between interest and actual adoption.

The numbers point to a lending market that is still small compared with the scale of bitcoin ownership. Ledn estimates the current consumer bitcoin-backed loan market at…