Digital Prime Technologies Launches Tokenet, Redefining Institutional Digital Asset Lending

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Nov 07, 2023, 10:33 ET

Tokenet is now operational with early adopters, including Xapo Bank, Hidden Road, EDX Clearing, and DV Chain

Anchorage Digital provides custody and settlement services for mutual clients of Tokenet and Anchorage Digital

JERSEY CITY, N.J., Nov. 7, 2023 /PRNewswire/ -- Digital Prime Technologies, LLC, an innovative provider of digital asset technology solutions for financial institutions, announced today the launch of Tokenet, an institutional digital asset lending platform, which a group of leading firms has already adopted at launch. This groundbreaking platform combines enterprise-grade technology and flexible functionality with industry best practices and expertise expected by traditional financial institutions.

Tokenet creates a reliable ecosystem for users to interact with trusted counterparties, allowing firms to post borrow needs and lending availability, manage collateral, and access a full reporting suite through an enterprise-grade system. The platform also features loan lifecycle management tools with automated mark-to-markets, returns, recalls, and rerates, all managed through its 24/7 chat functionality. Additionally, Tokenet provides customers with risk management tools that allow institutions to mirror traditional finance standards while mitigating operational and counterparty risk. Tokenet will launch with readily available inventory, including market participants' liquidity.

"Given the current markets and regulatory headwinds, Tokenet's launch is an important and exciting step towards establishing trust and transparency in digital asset lending. This platform redefines digital asset lending and embraces the regulatory safeguards of traditional finance," said James Runnels, Co-Founder and CEO of Digital Prime Technologies.

Digital Prime Technologies has partnered with Anchorage Digital, a secure and regulated crypto platform and custodian, to provide custody and settlement services for mutual clients of Anchorage Digital and Tokenet users. Client digital assets are held in segregated, on-chain vaults at Anchorage Digital Bank, with the highest security protocols in the industry.

"Regulated crypto infrastructure is no longer optional—it is a prerequisite for long-term safety and viability in today's market environment. Digital Prime shares our commitment to building a best-in-class regulatory stack, and we are proud to support their work on Tokenet," said Diogo Monica, Co-Founder and President at Anchorage Digital.

Tokenet is now operational and supported by prominent market participants in the digital asset space, including Hidden Road Partners, Xapo Bank, EDX Clearing, and DV Chain. This groundbreaking achievement showcases Tokenet's ability to seamlessly operate within the existing financial ecosystem and unlock new possibilities for a range of market participants.

"The Tokenet platform provides much-needed transparency and loan life cycle tools to the institutional lending space, setting it apart from what is currently available in the market. We're excited to work alongside other industry leaders to help mature the digital assets ecosystem," said Seamus Rocca, CEO of Xapo Bank.

"We are thrilled to be an early adopter of Tokenet," said Tony Acuña-Rohter, CEO of EDX Clearing. "Digital Prime Technologies shares our vision of bringing the best of traditional finance to cryptocurrency markets, and Tokenet is an extension of this critical mission."

For more information on Digital Prime Technologies and the Tokenet platform please contact James Runnels or Courtney Campbell at Digital Prime Technologies by visiting www.digitalprimetechnologies.com

About Digital Prime Technologies
With an unwavering commitment to best practices and market expertise, Digital Prime Technologies empowers capital market firms to thrive in the dynamic digital asset space. To learn more about Digital Prime Technologies, please visit our website at www.digitalprimetechnologies.com or contact us at [email protected].

About Anchorage Digital

Anchorage Digital is a regulated crypto platform that provides institutions with integrated financial services and infrastructure solutions. With the only federally chartered crypto bank in the US, as well as Anchorage Digital Singapore, which offers equivalent security and service standards, Anchorage Digital delivers an unparalleled combination of secure custody, regulatory compliance, and platform capabilities. The company is funded by leading institutions, including Andreessen Horowitz, GIC—Singapore's sovereign wealth fund, Goldman Sachs, KKR, and Visa, with its most recent Series D valuation over $3 billion. Founded in 2017, Anchorage Digital is headquartered in San Francisco, California, with offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and LinkedIn.

**Disclaimer:** This press release contains forward-looking statements. Actual results may differ materially from those projected in the forward-looking statements. Readers are cautioned not to rely on forward-looking statements, which speak only as of the date on which they are made and do not reflect Digital Prime Technologies' historical performance. Digital Prime Technologies undertakes no obligation to update or revise any forward-looking statements publicly.

SOURCE Digital Prime Technologies