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...
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Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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. ...
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This nft story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
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