Key facts
- Kalshi clients can now borrow against Bitcoin and Ethereum.
- Borrowed crypto can be used to margin perpetual futures.
- BitGo acts as a custodian in the lending structure.
Kalshi has partnered with BitGo to offer Bitcoin and Ethereum-backed loans, enabling eligible institutional traders to fund leveraged perpetual futures positions while retaining ownership of their cryptocurrency holdings. Kalshi Katalyst, the lending affiliate of Kalshi Prime, will provide the loans, with BitGo Bank & Trust serving as the custodian in a three-party arrangement. Eligible collateral includes Bitcoin, Ethereum, and GENIUS Act-compliant stablecoins, with plans to expand custody partners. The service aims to attract investors, including large Bitcoin holders and Latin American businesses using stablecoins, who wish to trade futures without selling their existing crypto assets. This move follows Kalshi's recent expansion into crypto perpetual futures, including BNB, ADA, and AAVE versions launched in September, and BTC perpetual futures trading initiated in June.