Digital Prime secures Marex backing to boost crypto lending for institutions
An investment of undetermined size will fuel Tokenet's growth, a platform for lending digital assets, amid rising institutional appetite for cryptocurrency infrastructure solutions.
Digital Prime Technologies, a provider of institutional cryptocurrency infrastructure, has received a financial injection of undisclosed value from Marex Group, a financial services company listed on Nasdaq, highlighting the increasing attention traditional finance is paying to digital asset marketplaces.
In a Wednesday announcement, the two firms revealed that the capital will be directed toward advancing Tokenet, a platform for lending and borrowing digital assets that Digital Prime created in collaboration with EquiLend. According to Marex, this investment aligns with the company's broader strategic initiative to grow its institutional digital assets operations.
Just one week prior, Digital Prime disclosed that Tokenet had achieved milestones of over $1 billion in lending inventory alongside more than $1 billion in borrowing demand from its initial partner organizations. These numbers represented the quantity of digital assets made available for lending on the platform and the level of borrowing interest demonstrated by institutional participants, as opposed to actual executed loan transactions. Among the launch partners were Galaxy Digital and Ripple Prime, along with other organizations.
With this capital commitment, Marex joins a growing roster of prominent financial services organizations expanding their presence in digital assets by backing crypto market infrastructure ventures. Additional major institutions, such as Barclays, BNY and Wells Fargo, have recently made moves into various niches within the sector, ranging from stablecoin infrastructure to tokenized deposits.