Kraken is considering secured loans in exchange for NFTs

By Cory Maki Cory Maki has been verified by Muck Rack's editorial team
Published on December 28, 2021
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Relaxnews

Kraken, a marketplace for non-fungible tokens (NFTs) wants to offer a new NFT-based lending service. In exchange for a token as collateral, Kraken will provide funds to the user. While the initiative is still in the works, this could turn out to be a first in the industry and even a first concrete use for NFTs.  “I would like to get a loan of $5000, in exchange I offer you my token of BoredAPE, bought at $3500, but whose value is continuing to increase.” It sounds surreal as an exchange but this type of deal could soon become reality… Kraken, a marketplace in the cryptoasset world, is lookin…

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By Cory Maki Cory Maki has been verified by Muck Rack's editorial team

Cory Maki is a former Staff Editor and the Business Development Manager at Grit Daily.

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