Kraken Unveils Crypto-Backed Loan Service for Pro Traders

Kraken, a leading cryptocurrency exchange, has introduced Flexline, a new crypto-backed loan service designed specifically for Pro traders. This innovative product allows users to borrow funds without having to sell their assets or sacrifice exposure to the market.

The key features of Flexline include fixed borrowing costs, transparent planning, and automatic interest calculations. Loan terms vary from 2 days to 2 years, providing flexibility for different trading strategies. Additionally, borrowers can pledge multiple asset crypto collateral from supported digital currencies, with money transfer done almost instantly in cryptocurrency or stablecoin formats.

Kraken emphasizes that Flexline operates under a simple loan agreement, offering predictable borrowing costs and transparency in planning. The service also allows borrowers to repay early, but may charge an early repayment fee. As the industry continues to grow, platforms are competing to provide safer products with better pricing models. Kraken's introduction of Flexline is a significant step in its expansion of institutional-focused financial services.