Kraken Launches Flexline Crypto-Backed Loans with 10–25% APR
Kraken introduced Flexline, a crypto-backed loan product for Pro users offering fixed-rate loans between 10% and 25% APR.Summary
Crypto exchange Kraken has launched Flexline, a new crypto-backed loan product specifically for its Kraken Pro users, allowing them to borrow funds against their digital asset holdings without selling them. These fixed-rate loans have terms ranging from two days to two years, with proceeds issued in crypto or stablecoins, and Annual Percentage Rates (APR) set between 10% and 25%. Collateral is held in segregated wallets and is subject to liquidation if maintenance requirements are breached or the loan matures unpaid. While early repayment is possible with a fee, the product is not available in several regions, including the US, Canada, and the UK. This launch follows Kraken's recent introduction of tokenized equity perpetual futures and occurs amid a general resurgence in crypto-collateralized lending across exchanges, DeFi, and traditional finance.
(Source：Cointelegraph)