Kraken and Maple Launch $375M Onchain Credit Facility for Institutions

Kraken and Maple have launched a $375 million onchain credit facility designed to expand institutional access to digital asset-backed lending. This new initiative brings traditional credit market protections into an onchain environment, introducing a structured lending framework that combines blockchain transparency with established credit structures.

The facility allows institutions to obtain liquidity against cryptocurrency holdings while retaining ownership of their assets. Kraken affiliates act as the originator, seller, and servicer of the loans, maintaining an economic interest in the facility to ensure alignment between lenders and loan managers.

The collateral backing the loans is held by Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution. This structure incorporates safeguards commonly found in asset-backed lending markets, including bankruptcy protection mechanisms, senior capital positioning, and independent administration.