Spout raises $2M to offer 0% interest loans on Solana

Spout Finance has raised $2 million in a strategic funding round to develop a Solana-based lending platform that would let investors borrow USDC against tokenized U.S. stocks without paying interest. Spout raised $2 million from investors including Draper Dragon, Anchorage Digital, and Flow Traders Thursday. The Solana based protocol proposes USDC loans against tokenized stocks with 0% borrower interest rates. Borrowers can access loans worth 50% of their pledged stock collateral through the proposed platform. Spout plans to generate lender returns by selling weekly covered call options against tokenized equities.

Source: crypto.news