January 23, 2022

American cryptocurrency Kraken will introduce loans under NFT collateral

The Kraken cryptocurrency is working on a new version of the use of non-exchangeable tokens (NFT), planning to allow users take the media for the deposit of their digital art.

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In addition, the trading platform will provide its customers with services for storing NFT.

Kraken CEO Jesse Powell said that the stock exchange is running on a system that will determine the liquidation cost of the NFTs:

“If you want to deposit CrüptoPunk on Kraken, we need to develop a current value reflection in your account. And if it is necessary, issue the means for the deposit. "

2021 was the year of unchangeable currents(NFT), thanks to the participation in this sector of retail and institutional clients, their trading volume exceeded $ 23 billion. Powell noted that the NFT concept is not new, it was based on the cryptoindustry.

"The first stage is speculation, the second stage is the purchase of art and support for artists, the third stage is the functional use of NFT sound."

Separate competitors of Kraken, such as Binance and FTX Exchange, have already launched NFT trading platforms. The Coinbase public cryptocurrency also plans to enter the NFT sector.

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