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This Firm Launched Crypto Lending Services in Anticipation of a Bitcoin ETF Approval

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A group of former Cantor Fitzgerald executives has launched Digital Prime Technologies’ Tokenet, a new crypto lending platform.

This platform is designed to cater to the anticipated demand from operators of spot Bitcoin ETFs (exchange-traded funds), pending their approval by United States regulators.

Crypto Lending Rebirth Ahead of Bitcoin ETF Approval

Digital Prime Technologies announced that its service, Tokenet, enables clients, including Xapo Bank, to lend out crypto. Key clients such as EDX Clearing and Hidden Road Partners are among the early adopters of this service.

The platform boasts various features, including risk management tools and chat functionality, enhancing the management and oversight of loans.

“Given the current markets and regulatory headwinds, Tokenet’s launch is an important and exciting step towards establishing trust and transparency in digital asset lending. This platform redefines digital asset lending and embraces the regulatory safeguards of traditional finance,” James Runnels, CEO of Digital Prime Technologies, said

This launch is particularly timely. Indeed, it fills the gap left by the collapse of several prominent crypto lenders like Genesis, Celsius, and BlockFi last year.

The demise of these lenders significantly impacted the crypto market, leading to reduced trading volumes and a scarcity of reliable lending options. Digital Prime’s entry into the market is a vital step towards revitalizing the crypto lending sector.

Runnels emphasized, “It’s almost like a rebirth of crypto lending.” He highlighted a potential scenario where authorized participa

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Author: Bary Rahma

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