TechFlow reports, according to Bloomberg, that several former executives of Cantor Fitzgerald have created a crypto lending platform called Tokenet, which may provide services for spot Bitcoin ETFs once they are approved.
Digital Prime Technologies, based in New Jersey, said on Tuesday that Tokenet already enables clients—including Xapo Bank—to lend digital assets to firms such as EDX Clearing. Anchorage Digital will serve as Tokenet's custodian. The platform also offers risk management tools and chat functionality allowing users to manage loans.
In addition, Digital Prime expects that if spot Bitcoin ETFs are approved in the U.S., ETF issuers will generate significant demand for borrowing Bitcoin, and Tokenet would be positioned to serve them. Founded by former Cantor Fitzgerald executives, Digital Prime’s subsidiary DLCC Prime obtained membership with the Financial Industry Regulatory Authority (FINRA) last year, enabling it to operate as a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC). Digital Prime has previously raised seed funding from investors including TD Cowen Inc.
