POPA ReconKraken & Maple Launch Onchain Facility for Crypto-Backed Lending
Kraken & Maple Launch Onchain Facility for Crypto-Backed Lending Kraken and Maple have launched an onchain warehouse facility for crypto-backed loans, bringing institutional credit structures onchain for the first time. The USDC facility powers Kraken’s OTC lending, allowing users to borrow against their crypto without selling it. Maple provides senior financing through a bankruptcy-remote structure, while Kraken Financial holds the collateral. The setup is modeled after traditional lending markets like mortgages and auto loans, but now backed by BTC and ETH. For lenders, it offers senior,…
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