TechFlow reported on January 20 that, according to Coinpost, cryptocurrency broker K33 announced the launch of a crypto-backed lending service on January 19, allowing clients to use digital assets such as Bitcoin (BTC) and Ethereum (ETH) as collateral.
The service will enable clients to borrow stablecoins like USDC, increasing liquidity while maintaining their digital asset positions. Headquartered in Norway, K33 is listed on the Nasdaq First North Growth Market.
K33 noted that crypto-backed lending has not yet been widely adopted in the Nordic region, and the service will initially be available to a limited number of qualified clients. CEO Torbjørn Bull Jenssen stated that the move aims to enhance client convenience, expand service offerings, and create new yield use cases for Bitcoin treasuries.
