DigitalMoneyBox Signal Desk
DigitalMoneyBox Crypto market intelligence
Browse sections
Cryptocurrency Bitcoin Ethereum Briefings Blockchain Security Mining Altcoin Research NFT
Timeline Hourly market signal stream Sources Publisher health and coverage Topics Curated crypto topic hubs Entities Assets, firms, people, regulators Media Kit Audience and placement options Search Advanced archive filters
NFT Cryptonews

Kraken Set To Let Users Borrow Funds Against Their NFTs

US crypto exchange Kraken is working on a new functionality which would enable its users to borrow funds against their non-fungible tokens (NFTs), according to the company's CEO, Jesse Powell. “If you deposit a CryptoPun...

38 /100
Market signal

Archive context

Older archive item. Useful for background and entity history, but not a fresh market-moving signal.

Kraken Set To Let Users Borrow Funds Against Their NFTs
 
US crypto exchange Kraken is working on a new functionality which would enable its users to borrow funds against their non-fungible tokens (NFTs), according to the company's CEO, Jesse Powell.
“If you deposit a CryptoPunk on Kraken, we want to be able to reflect the value of that in your account. And if you want to borrow funds against that,” Powell told Bloomberg, explaining the exchange was developing a system that would determine the liquidation value of users’ NFTs. ...
Read More: Kraken Set To Let Users Borrow Funds Against Their NFTs

Why this matters

This nft story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

Original source

Read on Cryptonews

Related market context