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. Summary Spout raised $2 million from investors including Draper Dragon, Anchorage Digital, and Flow Traders Thursday. The Solana based protocol proposes USDC loans against tokenized stocks with 0% borrower interest rates. Borrowers can access loans worth 50% of their pledged stock collateral through the proposed platform. Spout plans to generate lender returns by selling weekly covered call options against tokenized equities. The platform currently operates on Solana Devnet, with private beta access planned before mainnet deployment. 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...