Kraken to develop NFT marketplace offering token-backed loans Crypto exchange Kraken is developing a marketplace for NFTs where users can arrange loans using the tokens as collateral.
The marketplace will provide custody, and the exchange is figuring out how to determine the liquidation value of NFTs deposited so that users can use them as a collateral for loans.
Kraken will probably be the biggest exchange thus far to offer NFT-backed loans. The exchange is among the top 20 globally by trading volume.
