BitGo-Held Bitcoin and Ether Will Secure Perps Margin Loans for Some Kalshi Prime Clients

Kalshi Prime clients will be able to take out loans against Bitcoin, Ether and stablecoins held at BitGo and put the cash toward margin on perpetual futures listed on Kalshi’s exchange, Bloomberg reported on Wednesday, citing a company statement and an interview with Kalshi Prime CEO Jeff Bandman. Kalshi Prime is the prediction market’s US-registered futures commission merchant. The arrangement lets its clients keep their crypto exposure rather than selling coins to raise dollars for margin. “What we wanted to do was make it possible for customers to stay in crypto,” Bandman reportedly told Bloomberg. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter. How the Loans Work The program uses a tri-party structure.

First reported by Unchained. This page is a short excerpt; the full text is theirs.