Kraken launches Flexline lending product, accepting cryptocurrency as collateral

According to The Defiant, cryptocurrency exchange Kraken has announced the launch of the Flexline lending service, designed for crypto holders who cannot access traditional credit markets.

It is reported that Flexline offers a fixed annual interest rate of 10%-25% and accepts cryptocurrencies as collateral, supporting scenarios such as operational funding needs and proof of funds for large transactions. The product aims to address the issue of crypto-native businesses and high-net-worth individuals having difficulty obtaining loans from traditional financial institutions using digital assets.