Crypto exchange Kraken has launched Flexline, a fixed-rate crypto-secured loan product for ECP-qualified Kraken Pro users across 40 US states and Washington, DC, the company said on Thursday.
The product accepts 48 crypto assets and 6 fiat currencies as collateral, with loan terms ranging from 2 days to 2 years. APRs are fixed for the full term and visible before confirmation, ranging from 7% to 25%. BTC and ETH short-term borrows are available under 10%.
The minimum loan size is $75,000 USDC equivalent, rising to $100,000 in Delaware and Minnesota. A 0.50% origination fee applies at opening, and interest is paid every four hours in the borrowed asset currency, according to Kraken’s fee documentation.
Collateral stays on Kraken during the loan term, while borrowed funds can be withdrawn to a linked bank account or kept on-platform for trading and staking.
Eligible Contract Participant status, a classification under the US Commodity Exchange Act that generally applies to entities with more than $10 million in total assets or individuals with more than $10 million invested on a discretionary basis, is required for US access.
The product remains unavailable in 11 states, including California and New York. Kraken had published Flexline support and fee documentation as early as February, suggesting Thursday’s announcement marks the formal US availability push.
