Summary
- Kraken said it has launched “Flexline,” a fixed-rate crypto-collateralized loan product for professional traders.
- The product is offered to Pro users at fixed annual rates of 10% to 25%, with maturities ranging from a minimum of 2 days to a maximum of 2 years.
- The product allows users to borrow funds using crypto assets as collateral, and the specific loan-to-value (LTV) ratio was not disclosed.
Crypto exchange Kraken has launched a fixed-rate, crypto-collateralized lending product for professional traders.
According to crypto-focused media outlet Cointelegraph on the 25th (local time), the product, called “Flexline,” offers loans to Pro users at fixed annual rates of 10% to 25%. Loan maturities can be set from a minimum of 2 days to a maximum of 2 years.
The product is designed to allow users to borrow funds using crypto assets as collateral, though the specific loan-to-value (LTV) ratio was not disclosed.
As market volatility has risen recently, exchanges have continued to expand credit and leverage products aimed at institutional and professional investors.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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