Kraken Launches Flexline Lending Product, Accepting Cryptocurrency as Collateral

According to a report by The Defiant on May 13, cryptocurrency exchange Kraken announced the launch of its Flexline lending service, designed specifically for crypto holders who lack access to traditional credit markets. Reportedly, Flexline offers fixed annual interest rates ranging from 10% to 25% and accepts cryptocurrency as collateral, supporting scenarios such as operational funding needs and proof of funds for large transactions. The product aims to address the challenges faced by crypto-native businesses and high-net-worth individuals in obtaining loans using digital assets from traditional financial institutions.