USBC Expands Bitcoin-Backed Kraken Credit Facility to $40 Million

USBC, Inc. signed a Second Addendum to its Master Loan Agreement with Payward Interactive, Kraken's lending affiliate, raising its total credit commitment from $25 million to $40 million. CoinMarketCap published the disclosure, which came in an 8-K filed October 14, 2026.

USBC's Second Addendum With Payward Interactive

USBC, Inc., a Nevada corporation listed on the NYSE under the ticker USBC, disclosed the expansion in an 8-K filed October 14, 2026. The Second Addendum to the companies' Master Loan Agreement, originally dated March 18, 2026, replaces the prior addendum in full and lifts USBC's aggregate borrowing commitment from $25 million to $40 million, a $15 million increase.

As of the addendum's effective date, USBC already had $21 million in outstanding principal drawn against the facility, leaving $19 million in remaining availability, though any further draws remain subject to standard borrowing conditions and collateral maintenance requirements. Existing outstanding borrowings continue under their original terms even as the overall facility size expands, meaning the increase primarily opens up additional headroom rather than restructuring what USBC has already borrowed.

All borrowings under the facility are secured by bitcoin that USBC holds in custody with Payward Financial, an affiliate of Kraken's lending unit. The arrangement includes margin requirements and gives the lender liquidation rights if the value of the posted bitcoin collateral falls short of what is required to support the outstanding loan balance.

A separate Account Control Agreement amendment, also dated October 12, 2026, broadens how that same bitcoin collateral can be used. Under the new cross-collateralization terms, bitcoin securing the loan facility may also back certain digital asset derivatives transactions, and collateral posted for those derivatives can in turn help secure the loan facility's obligations. The filing does not disclose the interest rate attached to the facility, specific maturity dates, or the identity of the derivatives counterparty involved in the cross-collateralization arrangement.

Payward, the parent of Kraken, acquired Finland-based Saldo Bank on October 14 to expand its banking reach, a deal that adds an EU banking license, according to PYMNTS.com.

USBC's Earlier Payward Borrowings

USBC drew $15 million of debt under a Master Loan Agreement with Payward Interactive, Inc. in June 2026, according to akta.pro company records. That facility allowed up to $25 million in Bitcoin-collateralized borrowings at 8.5% interest, funded in three $5 million tranches in March, April and June 2026 to extend runway for tokenized deposit development.

USBC completed the divestiture of its legacy non-invasive sensor technology business effective March 27, 2026, the same records show. The transaction was completed pursuant to terms between USBC and a newly-formed entity controlled by former Chairman and CEO Ron Erickson.

USBC's Path to the Expanded Facility

USBC announced in September 2026 that NYSE American notified it of full compliance with all continued listing standards effective March 27, 2026, according to Articles from USBC, Inc. The company, which tokenizes U.S. bank dollars, regained full compliance with NYSE American's listing requirements.

USBC appointed Daniel J. Beck as its Chief Financial Officer, effective August 27, 2026, according to an SEC filing reported by AInvest. In July 2026, USBC announced the appointment of Dave Baldwin as Head of Partnerships to lead its developer-first partnership strategy for its tokenized deposit and digital payments platform, Stock Titan reported.

USBC's December 2026 Annual Meeting

The same 8-K disclosed that USBC's board has set December 17, 2026 as the date for its 2026 virtual annual meeting. October 26, 2026 is set as the record date for shareholders entitled to vote, and October 23, 2026 is the deadline for stockholder proposals and director nominations ahead of that meeting.