Utah-based KindlyMD announced Tuesday that it has entered into a loan agreement with Payward Interactive, the company operating Kraken crypto exchange.
According to an 8-K form filed with the Securities and Exchange Commission, KindlyMD’s wholly-owned subsidiary Nakamoto Holdings closed a $210 million USDT-denominated loan facility with Kraken on Dec. 9. This one-year fixed-term loan carries an annual fee of 8.00% and matures on Dec. 4, 2026.
The disclosure noted that the loan facility is solely secured by bitcoin collateral worth a minimum of $323.4 million. This collateral is held in custody by Kraken-affiliated Payward Financial under a shared account control agreement across the three parties.
“The Company will use the proceeds from the Kraken Loan to satisfy its obligations in full under the outstanding term loan facility extended under the Master Loan Agreement, dated October 6, 2025, with Antalpha Digital,” the disclosure said.
KindlyMD and Antalpha formed a strategic partnership in October, where Nakamoto issued five-year $250 million secured convertible notes to the Singapore-based fintech firm. By repaying the Antalpha loan in full, KindlyMD is ending its relationship with Antalpha and shifting its borrowing to Kraken.
KindlyMD, originally a healthcare firm, completed its merger with Nakamoto Holdings in August this year to focus on operating a bitcoin treasury vehicle.
By the end of September, the company purchased a cumulative amount of 5,765 BTC at an average price of $118,204 per bitcoin. After utilizing 367 BTC for investments, the company held 5,389 BTC as of Nov. 12, 2025.
KindlyMD (NAKA) closed up 3.5% on the Nasdaq on Tuesday at $0.47, according to Google Finance data.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
