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Edited by Kahn332 at 22-12-2023 05:05 AM
Digital Prime Technologies, founded by a former Cantor Fitzgerald executive, has launched an institutional digital asset lending platform called Tokenet. The platform is set to provide services for potential operators of a spot Bitcoin ETF.
The company stated that its Tokenet platform already allows clients, including Xapo Bank, to lend digital assets to other institutions such as EDX Clearing and the global institutional credit network Hidden Road Partners. This setup offers risk management tools and chat features, enabling users to manage loans.
Digital Prime anticipates that if a spot Bitcoin ETF is approved in the future, there will be an increased demand for Bitcoin lending by ETF issuers. Professional traders, known as authorized participants, can collaborate with issuers to create shares when demand rises. When buyer interest cools, participants can redeem these shares with the fund's sponsor to reduce supply, maintaining the ETF's price in line with its net asset value. |
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Post time 12-11-2023 20:16:07