Crypto exchange Kraken’s new NFT marketplace to issue loans
Jesse Powell said the exchange will expand into a marketplace for nonfungible tokens and NFT-backed loans beginning in 2022. Kraken founder and CEO Jesse Powell recently shared in an interview with Bloomberg News that the crypto exchange will launch a nonfungible token (NFT) marketplace that will enable users to borrow funds against their NFTs. Powell explained that the company plans to enter the NFT space in early 2022 and hopes to add the feature to determine the liquidation value of an NFT and if it can be put up as collateral for a loan.“If you deposit a CryptoPunk on Kraken, we want....
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According to the exchange, users will not incur any gas fees for trading NFTs custodied with Kraken — only transferring tokens and NFTs off the platform. Crypto exchange Kraken has opened a waitlist for its nonfungible token, or NFT, marketplace in beta more than four months after CEO Jesse Powell announced the initiative.In a Tuesday blog post, Kraken said it had opened the waitlist for its marketplace, which will allow users to buy and sell NFTs and reportedly, use tokens as collateral for loans. According to the exchange, users will not incur any gas fees for trading NFTs that are....
While non-fungible token (NFT) collectibles have become a hot commodity over the last 12 months, a number of NFT owners are taking loans out against their NFTs. This month, a project called Nftfi has facilitated $25.6 million in NFT loans so far, and last month the lending marketplace recorded nearly $50 million in NFT loans.
NFT Lending and Borrowing Continues to Grow
NFTs have become a billion-dollar industry during the last year and a popular blockchain technology use case. Even though sales have slid in recent times amid the crypto market downturn, NFTs are still selling for....
Dutch Bitcoin exchange, CleverCoin has been acquired by the popular San-Francisco Bitcoin exchange, Kraken just months after getting Cavirtex and Coinsetter, also Bitcoin exchanges. After acquiring two exchanges already, Kraken still seemed to be looking to expand its user base and decided to merge the popular Netherlands-based exchange into Kraken which allows Kraken to expand into Europe. This is one of Kraken’s most popular markets and will certainly improve Kraken’s Euro trading pairs. Why CleverCoin? A graduate of Boost VC, Eindhoven-based CleverCoin was founded in 2013 and backed by....
Online bitcoin loans marketplace BitLendingClub has announced via a blog post that it has officially become the world's biggest bitcoin lending marketplace by servicing more than $430,000 worth of loans in June. With this, the company defeated its closest competitor BTCJam which served $415,000 for the same time period. However, the success didn't come to the company overnight, and they had been working hard for the past several months. The blog post reiterates company's commitment to improve in various areas namely, Loss Rates - The Company focused on bringing down the loss rates and....
The announcement came in the wake of Kraken’s plans to strengthen its position in international markets. Bitcoin and Ethereum exchange Kraken today announced that it has appointed Edward M. Stadum as its new General Counsel. The announcement came in the wake of Kraken’s plans to strengthen its position in international markets. Stadum, who has a collective experience of more than 50 years as a banker, lawyer and venture capitalist, has been appointed for his expert insight which, according to CEO Jesse Powell, could serve Kraken well in developing its presence in the North American and....