A new player has entered the field, left after the crash of crypto lenders such as BlockFi, Celsius and Genesis, with Digital Prime Technologies unveiling an institutional digital asset lending platform called Tokenet that allows users to interact with trusted counterparties, meet lending needs posting and availability of loans and managing collateral.
“The platform also features loan lifecycle management tools with automated mark-to-market, returns, recalls and revaluations, all managed through the 24/7 chat functionality,” the company said in a rack.
Digital Prime co-founder and CEO James Runnels is a former director of Cantor Fitzgerald and head of securities lending at tZero, a short-lived tokenization startup from Overstock.
“Given today’s markets and regulatory headwinds, the launch of Tokenet is an important and exciting step toward establishing trust and transparency in digital asset lending. This platform redefines digital asset lending and embraces the legal safeguards of traditional finance,” Runnels said.
The Digital Prime team includes other Cantor Fizgerald alumni, as well as Bank of America veteran Courtney Campbell.
Anchorage digital
Tokenet allows institutional crypto traders to borrow and lend digital assets using Anchorage Digital as its custodian.
“Customer digital assets are held in segregated, on-chain vaults at Anchorage Digital Bank, with the highest security protocols in the industry,” Digital Prime said.
“Regulated crypto infrastructure is no longer optional – it is a prerequisite for security and long-term viability in today’s market environment,” said co-founder and president of Anchorage Digital. Diogo Monica said in the statement.
Early clients include crypto custodian Xapo Bank, prime brokerage Hidden Road, institutional exchange EDX and market maker DV Chain.
“The Tokenet platform brings much-needed transparency and loan lifecycle tools to the institutional lending space, setting it apart from what is currently available in the market,” said Xapo Bank CEO. said Seamus Rocca.
