TL;DR
- Kraken Flexline, a fixed-rate, crypto-secured loan, is now available to ECP-qualified1 Kraken Pro users across 40 US states and Washington, DC.
- The APR is fixed for the full term and visible before you confirm, so the cost of borrowing can be modeled with real numbers before you commit.
- 48 crypto assets and 6 fiat currencies are accepted as collateral, with loan terms from 2 days to 2 years and a 75,000 USDC equivalent minimum (100,000 USDC equivalent in Delaware and Minnesota).
- Collateral stays on Kraken throughout the term; capital can withdraw off-platform to a linked bank account or stay on-platform to trade, stake, or manage positions.
A third path, beyond sell or hold
Flexline is a fixed-rate loan secured by crypto you already hold on Kraken, available to ECP-qualified users in 40 US states and Washington, DC.2
The core value proposition is simple. Keep your position. Access the capital you need. Your crypto stays on Kraken.
How Flexline actually works
The structure is built so the decision can be evaluated with real numbers, not estimates. You select the assets you want to use as collateral, see the fixed APR and the liquidation threshold3 before you confirm, and either keep the proceeds on Kraken or withdraw them to a linked bank account. When you settle the loan, the collateral returns in full.
A few specifics worth knowing up front:
- Fixed APRs range from 7% to 25% for the full term, with BTC and ETH short-term borrows available under 10%
- Loan terms run from 2 days to 2 years
- 48 crypto assets and 6 fiat currencies are accepted as collateral
- Minimum loan size is $75,000 USDC equivalent ($100,000 USDC equivalent in Delaware and Minnesota)
- A 0.50% origination fee applies at loan open
- A loan monitoring dashboard surfaces collateral value and liquidation threshold throughout the term
When borrowing fits the situation better than selling
When might Flexline be a good fit for you? When you need:
Working capital against a long-held position
A founder holds a meaningful ETH position built up over several years. A short-term capital need arises, such as a bridge before a funding round closes or a real estate transaction with a defined timeline. The default instinct is to sell. With Flexline, the position stays intact on Kraken, the founder draws against it at a known fixed rate, and the capital withdraws to a bank account. When the loan settles, the collateral returns.
Balance sheet deployment without unwinding a treasury position
An entity treasury holds BTC as part of its reserve thesis. A separate opportunity appears, perhaps a private investment, an external capital commitment, or a DeFi position elsewhere, and capital is needed to act on it. Selling the BTC means restructuring the treasury and exiting a position the entity has been intentional about. Flexline offers a structured alternative: borrow against the BTC at a fixed APR, deploy the proceeds off-platform, and settle the loan when the time comes.
On-platform flexibility while keeping a long-term position intact
A Kraken Pro user holds a long-standing BTC position they intend to keep in place. They want capital available to stake, hold in stablecoins, or manage other positions on Kraken without closing the BTC position to do it. Flexline lets the BTC position stay where it is while capital becomes available at a known fixed cost.
Getting started
The decision to sell a position you’ve built conviction in shouldn’t be forced by a capital need or a passing opportunity. Flexline gives serious holders a structured third option, with the cost known upfront, the collateral kept on Kraken, and the capital free to go where it needs to go.
See what your holdings can do without leaving your portfolio.
1 Eligible Contract Participant (ECP) is a classification defined under the US Commodity Exchange Act. It generally includes corporations, partnerships, and similar entities with more than $10 million in total assets; regulated financial institutions and broker-dealers; certain governmental entities; and individuals with more than $10 million invested on a discretionary basis (or $5 million when entering into a transaction to manage risk). ECP qualification is required to access Kraken Flexline in the US. Full eligibility criteria are available at kraken.com/legal.
2 Flexline is currently unavailable in CA, CT, MA, MS, MT, ND, NV, NY, PR, SD, and VT.
3 If collateral value falls below the threshold it may be liquidated.
Using Kraken Flexline involves risk, may have tax implications, and may result in the loss of capital. Borrowed assets subject to withdrawal limits. Availability of Kraken Flexline is subject to certain limitations and eligibility criteria. This content is for informational purposes only and is not a recommendation to use Kraken Flexline. See Kraken Flexline terms at kraken.com/legal.