Kraken develops the NFT market and provides token-backed loans

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Cryptocurrency exchange Kraken is developing a market Non-fungible tokens (NFT) The exchange’s founder and CEO Jesse Powell stated in Bloomberg News that users can use tokens as collateral to arrange loans interview Released on Friday.

  • Powell said that the market will provide custody services, and the exchange is studying how to determine the liquidation value of the deposited NFT so that users can use it as collateral for loans.
  • Kraken focuses on major exchanges, such as Coin Bank As assets continue to soar, FTX is developing the NFT market. OpenSea is one of the most important markets for NFTs, and the transaction volume in the past 30 days has just exceeded US$2 billion. Application radar data.
  • Although decentralized financial projects NFTfi, was founded in February 2020, And crypto lenders relation Already offering loans backed by NFTs, Kraken may be the biggest exchange to try it to date. The exchange’s trading volume ranks among the top 20 in the world, Data from CoinGecko exhibit.

read more: Despite the downturn in the broader crypto market, NFTs are more popular than ever

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