Kraken is developing an NFT Marketplace where users can borrow using NFT tokens as collateral. According to founder and CEO Jesse Powell in a statement:give an interviewwith Bloomberg News
“The market will provide care and exchange. And it will find a way to determine the settlement value of NFT deposits so that users can use them as collateral for loans,” Powell said.
Kraken is following other major exchanges such as Coinbase and FTX in the development of the NFT Marketplace as the asset continues to gain popularity, while OpenSea, one of the most important NFT exchanges, has over 2,000 trading volumes. millions of dollars over the past 30 days, according to data from DappRadar
Kraken is probably the largest exchange to offer NFT token lending as collateral. Kraken is one of the top 20 exchanges in the world by trading volume, as shown by. CoinGecko
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