Nasdaq-listed financial services company Marex Group has invested an undisclosed amount in institutional crypto infrastructure firm Digital Prime Technologies. Cointelegraph reported on Aug. 5 that the investment is part of Marex's strategy to expand its institutional digital asset business.
The funds will be used to develop Toknet, a digital asset lending and borrowing platform Digital Prime built with Equilend. Marex plans to accelerate the expansion of its institutional digital asset business through the investment.
Digital Prime said last week that Toknet, based on launch partners, has secured lending capacity of more than $1 billion and borrowing demand exceeding $1 billion. It said the figures do not represent loans actually executed, but rather the amount of digital assets that can be lent through the platform and aggregated borrowing intentions disclosed by participating institutions.
Launch partners include Galaxy Digital and Ripple Prime. Cointelegraph said Marex's investment shows a trend of traditional financial firms expanding digital asset businesses by investing in crypto market infrastructure.
Barclays, BNY and Wells Fargo have also recently invested in stablecoin infrastructure and tokenised deposits.
Chi-gyu Hwang
delight@d-today.co.kr