Breaking: Kraken to facilitate NFTs as collateral for loans

Kraken CEO, Jesse Powell has done it again. Powell recently revealed to Bloomberg that the crypto exchange platform is now also working towards launching a Non-Fungible Token (NFT) marketplace that can allow consumers to make functional uses of their tokenised collection, including utilising NFTs as collateral to borrow funds against. Powell noted that the upcoming NFT marketplace aims to support custody services, along with adding the exclusive feature of collateralizing NFTs for loans.