Ibis emerged from stealth on October 28 and announced a $250 million credit facility with FalconX, along with a pre-seed funding round. Its initial borrowers will be eligible firms active in crypto trading and capital markets, while Anchorage Digital Bank will provide custody, banking and platform design services. Ibis plans to originate, structure, tokenize and manage institutional credit agreements, although pricing, advance rates, collateral controls and treatment during insolvency have not been fully specified. The facility represents potential lending capacity and does not mean that $250 million in loans has already been originated. Institutional adoption will depend on actual drawdowns, accepted collateral, lending covenants and repayment performance during periods of market stress.
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