Ledger Enterprise and Membrane Labs: Using Secured Digital Assets as Collateral, Without Moving Them
Ledger Enterprise Tradelink now connects with Membrane Labs' loan and collateral management infrastructure, so institutions can use digital assets as collateral while keeping them in self-custody.
Institutional lending doesn't end once assets are secured. Collateral values move. Margin events have to be tracked. Settlement instructions need coordinating, and every party needs a reliable operating record of the position.
Using digital assets as collateral has usually meant moving them. To pledge an asset, an institution had to transfer it to a third party, reintroducing the counterparty risk that self-custody exists to remove. The asset and the loan lived in two disconnected places.
Today Ledger Enterprise and Membrane Labs announced an integration between Ledger Enterprise Tradelink and Membrane's institutional loan and collateral management platform. It enables institutions to keep digital assets secured through their chosen custody arrangements while managing the loans, collateral obligations and settlement activity connected to those assets.
How it works
Ledger Enterprise Tradelink is a pledge and settlement engine. It enables institutions to use assets they hold in self-custody as collateral in connection with borrowing and lending arrangements entered into with their own counterparties. Ledger does not lend, borrow or act as a counterparty to the transaction. Institutions can govern how assets are pledged, monitor collateral and maintain control until settlement, helping reduce counterparty exposure and unnecessary asset movement.
Membrane adds the operating infrastructure required to manage the resulting credit position. Its platform supports loan booking and servicing, interest accruals, collateral monitoring, loan-to-value thresholds, margin workflows, payment obligations, settlement coordination and reporting across counterparties and custodians.
Together, the platforms connect two essential parts of institutional lending: control of the assets securing a transaction, and management of the financial obligations surrounding it. Lending, risk and operations teams gain a more coordinated view of the loan and collateral lifecycle while reducing the manual reconciliation required across custody, credit and settlement systems.
What it means for institutions
The integration extends the collateral and settlement capabilities of Ledger Enterprise Tradelink into the day-to-day management of institutional loans. For Membrane, it connects loan and collateral workflows to the Ledger Enterprise Tradelink governance, pledge and settlement framework. For institutional participants, it creates a more complete operating path from secure asset control through loan servicing, margin management and settlement.
"Ledger Enterprise Tradelink gives institutions a secure foundation for digital asset activity," said Sebastien Badault, EVP of Ledger Enterprise. "Membrane adds the loan and collateral management infrastructure around that foundation, helping institutions manage collateral monitoring, margin workflows, settlement coordination and reporting in a more connected way."
"Effective digital asset lending requires the asset and the loan to remain operationally connected," said Carson Cook, CEO and Founder of Membrane Labs. "Ledger Enterprise Tradelink governs how collateral is pledged and settled. Membrane manages the loan terms, collateral requirements and lifecycle events around that position. Together, we are giving institutions the infrastructure to use secured digital assets in credit markets with stronger visibility and fewer manual handoffs."
The integration is available to qualified institutional participants through Ledger Enterprise Tradelink and Membrane Labs.
