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Crypto lending expands: Kraken introduces Flexline, a fixed-rate product for experienced traders
Crypto exchange Kraken has launched a new fixed-rate crypto lending product. Users of the Kraken Pro platform can now borrow funds for up to two years using their digital assets as collateral.
Flexible terms for experienced traders
As reported by Cointelegraph, the product, called Flexline, is available to Kraken Pro users and allows them to obtain near-instant loans secured by their own cryptocurrency without selling it.
Fixed-rate loans are available for terms ranging from two days to two years. Funds are issued in cryptocurrency or stablecoins, which can be traded on the platform or withdrawn, depending on regional regulations.
Annual interest rates range from 10% to 25%, although the exchange has not disclosed specific loan-to-value (LTV) ratios.
Collateral will be held in segregated wallets and included in Kraken’s Proof of Reserves attestations, which verify client assets on a 1:1 basis. However, collateral may be liquidated if maintenance requirements are breached or if the loan expires without repayment.
Loans can be repaid early using account balances, though an early repayment fee applies. The product is not available in Australia, Brazil, Canada, India, New Zealand, Switzerland, the United Arab Emirates, the United Kingdom, or the United States.
Crypto lending gains momentum
Kraken’s new product launch further highlights the growing convergence of traditional and digital finance, as well as increasing confidence in the long-term value of the crypto industry.
Recently, Coinbase expanded the list of digital assets that can be used as collateral for loans of up to $100,000 in USDC, adding cryptocurrencies such as XRP, DOGE, ADA, and Litecoin.
Meanwhile, U.S. mortgage lender Rate introduced its RateFi program, which considers certain crypto assets for mortgage lending without requiring liquidation.
Against this backdrop, decentralized lending markets continue to expand. According to DefiLlama, total value locked (TVL) in DeFi lending protocols now stands at approximately $51.9 billion, with around $30.8 billion in active borrowing. Nearly half of that amount is accounted for by Aave.
As we wrote, Kraken launches new SPAC targeting digital asset firms
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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