Spout raises $2M to offer 0% interest loans on Solana

Spout Finance has raised $2 million in a strategic funding round to develop a Solana-based lending platform that would let investors borrow USDC against tokenized U.S. stocks without paying interest. Spout announced on October 15 that the round attracted Draper Dragon, Anchorage Digital, Flow Traders, Taisu Ventures, Vessel Capital, Solayer, 2Square Capital, Bering Waters Ventures, and Blockstreet Capital, with strategic backing from Solana Labs. The company plans to use the funding to expand its development team and build lending infrastructure for tokenized securities. The proposed service allows customers to pledge digital versions of U.S. stocks as collateral and borrow USDC at a fixed 50% loan-to-value ratio. Spout intends to fund lender returns through options premiums generated from the pledged shares, eliminating conventional interest charges for borrowers.

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