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Solana-based lending protocol Spout said it raised $2 million in strategic funding, with participation from Draper Dragon, Anchorage Digital, Flow Traders and Solayer, while Solana Labs also provided support.
Spout is developing a service that would let users borrow interest-free USDC worth 50% of their stock holdings by posting tokenized U.S. stocks as collateral. The company plans to use the proceeds to expand headcount and build lending infrastructure for exchanges, wallets and token issuers. Spout has not yet launched on mainnet, and is currently running a beta service on the Solana devnet ahead of a private beta test planned in the near term.