Spout Finance Unlocks $2 Million to Disrupt Stock Lending
Photo: TheNewsCrypto
Spout Finance has raised $2 million in a fundraising campaign to democratize prime brokerage with zero-interest lending against tokenized equities. Participants in the round included Draper Dragon, Anchorage Digital, Flow Traders, Taisu Ventures, Vessel Capital, Solayer, 2Square Capital, and Bering Waters Ventures, with strategic backing from Solana Labs. In the current traditional financial system, a share-collateralized loan attracts punitive interest rates. For instance, at Charles Schwab, the base interest rate is 10.25%. Meanwhile, the interest rate for borrowing against your shares in the company, or even those in Fidelity Investments, is 12.075% for a margin under $25,000.
Source: TheNewsCrypto
