PANews reported on December 10th that, according to The Block, Nasdaq-listed Bitcoin treasury company KindlyMD announced on Tuesday that it has entered into a loan agreement with Payward Interactive, the company that operates the cryptocurrency exchange Kraken. According to an 8-K filing with the U.S. SEC, KindlyMD's wholly-owned subsidiary, Nakamoto Holdings, entered into a $210 million USDT-denominated loan arrangement with Kraken on December 9th. This one-year term loan has an annual interest rate of 8.00% and will mature on December 4, 2026.

The disclosure indicates that the loan arrangement was secured solely by Bitcoin worth at least $323.4 million. Under a tripartite shared account control agreement, this collateral was held in escrow by Payward Financial, an entity associated with Kraken. By fully repaying the Antalpha loan, KindlyMD will terminate its partnership with Antalpha and redirect its borrowing to Kraken.