Kraken Flexline is now available to ECP-qualified US users

Kraken launched Flexline, a fixed-rate, crypto‑secured loan product for ECP‑qualified Kraken Pro users across 40 US states plus Washington, D.C. The product offers visible, fixed APRs (7%–25% for full term; BTC and ETH short‑term borrows under 10%), loan terms from 2 days to 2 years, and accepts 48 crypto assets and 6 fiat currencies as collateral. Collateral remains on Kraken while proceeds can be withdrawn to a linked bank account or retained on‑platform. Minimum loan size is $75,000 USDC equivalent ($100,000 in DE and MN) and a 0.50% origination fee applies. Market impact: Flexline provides a third option to selling holdings, potentially reducing forced sell pressure and enabling on‑balance‑sheet liquidity for holders and treasuries — which could be modestly supportive for BTC/ETH demand — while introducing leverage and platform counterparty risk.