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Kraken’s Powell Wants You to Borrow Against Your CryptoPunk

  • Jesse Powell is working on a custodial NFT marketplace
  • The push follows that of larger competitors FTX, Binance
Updated on

Kraken founder and Chief Executive Officer Jesse Powell says the cryptocurrency exchange is working on a non-fungible token marketplace that could appeal to customers who want to do more than just collect digital art

According to Powell, the marketplace would provide custody services and the exchange is considering a system where customers can use their NFTs as collateral to borrow funds against.