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On-chain credit platform Ibis has officially launched after securing a credit facility of up to $250 million from FalconX. A credit facility is a pre-approved borrowing limit that can be drawn on as needed.
FalconX has been expanding in the on-chain credit market, including by building a $1 billion lending pool with Ethena Labs. Alongside FalconX, Anchorage Digital, Innovating Capital, Revolut, the Injective Foundation and Blockchain.com participated in Ibis’ pre-seed round.
Ibis said it will initially source, tokenize, underwrite and service structured credit for crypto and prediction-market institutions, with plans to expand into GPU infrastructure, robotics and venture capital.