Kraken Expands Credit Offerings with Crypto-Backed Loan Product

Kraken, a leading cryptocurrency exchange, has expanded its credit offerings with the launch of Flexline, a crypto-backed loan product designed for advanced and institutional traders. The platform allows users to pledge supported digital assets as collateral, enabling them to access funds almost instantly.

The interest rates on Flexline loans range from 10% to 25% per annum, depending on the loan structure and asset pledged. Borrowers can repay early using their account balance, but will be subject to an early repayment fee. Kraken has also restricted the availability of Flexline in several jurisdictions, including Australia, Brazil, Canada, India, New Zealand, Switzerland, the United Arab Emirates, the United Kingdom, and the United States.