Kraken, Maple Launch Warehouse Financing Facility for Crypto Loans

Kraken and Maple have partnered to launch an on-chain warehouse financing facility for institutional loans backed by cryptocurrencies.

The facility is designed to supply funding for Kraken's OTC lending business, using a special purpose vehicle and operating with funds denominated in USDC.

Maple provides senior capital and Kraken retains a stake in the transaction. The two companies did not disclose the facility's size or detailed financial terms.