Tokenet Platform to Service Institutional Clients
Tokenet, a new crypto-lending platform, is expecting a surge of institutional clients should the United States approve a Bitcoin (BTC) exchange traded fund (ETF). The platform was launched by a team of executives who previously headed financial services firm Cantor Fitzgerald and now work for Digital Prime Technologies.
Tokenet offers lending and borrowing of digital assets, as well as risk management tools to help institutions mitigate counterparty risks in a similar way to traditional finance. It is already supported by a number of crypto firms, including Hidden Road Partners, Xapo Bank, EDX Clearing and DV Chain.
The platform is part of the Web 3.0 revolution, which includes a variety of tools and technologies such as SOFI Web 3.0 ETF, a list of crypto coins, digital marketing, and top companies to invest in. Examples of Web 3.0 tools include Coinbase and other examples of Web 3.0 technologies.
Tokenet’s Launch and the Crypto Market
Tokenet’s launch is an essential and thrilling step towards creating trust and transparency in digital asset lending, according to James Runnels, co-founder and CEO of Digital Prime Technologies.
In the wake of the bankruptcy of firms such as Voyager Digital, Celsius Network and BlockFi, Tokenet is part of a growing number of organisations that are embracing crypto lending.
In order to increase diminishing revenues, crypto exchange giants like Coinbase and Binance have used lending services and have guaranteed investors that they have learned from the errors of the crypto lending disaster of 2022.
Tokenet’s launch is being supported by the wider crypto market enthusiasm for the possible approval of a spot Bitcoin ETF. Bloomberg ETF analysts have estimated the likelihood of approval at 90% before January next year.
If a spot Bitcoin ETF is approved, crypto lending firms such as Tokenet stand to benefit from the influx of institutions looking to borrow Bitcoin.
Runnels was formerly the managing director at Cantor Fitzgerald, while Bob Sherry, the COO of Digital Prime Technologies, was the COO of Prime Services at Cantor until 2018. Both of them have experience with web 3.0, sofi web 3.0 ETF, web 3.0 crypto coins name list, web 3.0 and digital marketing, top web 3.0 companies, web 3.0 companies to invest in, list of web 3.0 tools, web 3.0 coinbase, web 2.0 and web 3.0 tools examples, examples of web 3.0 technologies.
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