Galaxy Digital made a strategic investment in Digital Prime Technologies, the company behind Tokenet, an institutional digital asset lending platform developed with EquiLend. EquiLend announced the investment on June 23. Tokenet launched in May 2026 with Galaxy as a launch participant, applying securities lending workflows, risk controls and lifecycle management to digital assets. The investment deepens Galaxy's relationship with the platform as digital asset lending rebuilds institutional trust after the failures of centralized lenders such as Celsius, BlockFi and Genesis in the previous crypto credit cycle.
Tokenet Applies Securities Finance Model to Digital Asset Lending
The platform was built by Digital Prime Technologies in partnership with EquiLend to import traditional securities lending processes into digital asset markets. Traditional securities lending relies on established processes for loan negotiation, collateral management, recalls, lifecycle events, corporate actions, rate changes, mark-to-market and settlement discipline. Digital asset lending developed without the same shared operating layer, leaving institutions exposed to bilateral process risk, counterparty opacity and inconsistent collateral practices.
EquiLend's existing position in the securities finance industry provides distribution into the institutional lending community and familiarity with operational language that banks, asset managers, custodians and broker-dealers use. Galaxy's decision to invest after joining as a launch participant indicates the firm views Tokenet as institutional lending infrastructure.
Max Bareiss, Head of Lending at Galaxy Digital, said the market needs infrastructure that institutions can trust from the outset. "The maturation of digital asset lending depends on infrastructure that institutions can trust from day one. Tokenet has been built with that bar in mind, and Galaxy's investment in Digital Prime is a reflection of our confidence in both the platform and the team behind it."
James Runnels, Co-Founder and CEO of Digital Prime Technologies, said the investment validates the company's attempt to bring digital asset lending closer to traditional market standards. "This investment validates what we set out to build: an institutional-grade platform that closes the gap between digital asset lending and the standards the traditional market already operates by. Having Galaxy as both a live participant and an investor reflects confidence in both the platform and the direction of the market."
Galaxy Investment Follows Crypto Credit Platform Collapses
Galaxy's investment follows the collapse of several crypto credit platforms in the previous cycle. Retail-facing yield products, rehypothecation, unsecured or undercollateralized lending, opaque balance sheets and maturity mismatches contributed to the failures. Institutional lenders that survived have since focused on counterparty controls, legal structure, collateral quality and operational transparency.
The firm's Q1 2026 materials showed an average loan book of about $1.4 billion and 1,691 trading counterparties. Galaxy now combines trading, lending, asset management, venture capital, custody-related services and data center infrastructure.
Nick Delikaris, Chief Product Officer at EquiLend, said Galaxy's investment supports the view that institutional participants want access to digital asset lending without compromising operational standards. "EquiLend's partnership with Digital Prime was built on the recognition that institutional participants need a path into digital asset lending that doesn't require them to compromise on operational standards. Galaxy's investment in Digital Prime reinforces that the market is moving in that direction."
Platform Targets Institutional Collateral Market
Digital asset funds, market makers, miners, ETFs, prime brokers, custodians and trading firms need ways to borrow and lend crypto assets for short selling, settlement, market making, liquidity management, financing and basis trades. Galaxy's platform supported more than 100 crypto assets in Q1 2026.
Digital Prime said the investment will be used to accelerate Tokenet's development and expand its institutional client base. EquiLend's network will provide the distribution foundation for the platform to scale within the lending community.
The investment amount was not disclosed.
FAQ
What did Galaxy Digital invest in on June 23?
Galaxy Digital made a strategic investment in Digital Prime Technologies, the company behind Tokenet, an institutional digital asset lending platform developed with EquiLend. The investment was announced by EquiLend on June 23.
When did Tokenet launch and what does it do?
Tokenet launched in May 2026 with Galaxy as a launch participant. The platform applies securities lending workflows, risk controls and lifecycle management to digital assets, importing traditional securities finance processes into crypto markets.
What was Galaxy Digital's loan book in Q1 2026?
Galaxy's Q1 2026 materials showed an average loan book of about $1.4 billion and 1,691 trading counterparties. The firm's platform supported more than 100 crypto assets during that period.
