If Three Arrows Capital Ltd fails to repay its loan, the company's subsidiary may issue a default notice on Wednesday, according to Voyager Digital Ltd.
Voyager's exposure to Three Arrows Capital consists of 15,250 bitcoins, nearly $310 million and $350 million USDC.
The company said it had asked for a repayment of $25 million USDC by June 24, but later requested that the entire amount be repaid by June 27. Voyager said that neither of those have been repaid.
It said that legal remedies are available to recover the amount from the hedge fund.
Three Arrows is exploring options including a sale of assets and a bailout by another firm, according to the Wall Street Journal last week.
Voyager signed an agreement with Alameda Ventures Ltd for a revolving line of credit this month, seeking access to additional capital to meet its customers' needs as the price of cryptocurrencies takes a hit.