Kraken and Maple close a facility for crypto-backed lending

Kraken and Maple announced closing an onchain warehouse-financing facility on 25 June. The USDC-denominated arrangement funds Kraken’s OTC lending programme. Maple provides senior financing through a dedicated special-purpose vehicle designed to be bankruptcy-remote, while Kraken affiliates originate, sell and service the loans.

Kraken Financial holds the underlying collateral, and Zaria acts as independent administrator. The companies describe BTC- and ETH-backed, overcollateralised exposure for Maple lenders, with balances and loan performance visible onchain. Those structural features do not establish that the loans are risk-free or that collateral values cannot fall. The announcement does not disclose the facility size or a universal borrower interest rate. Its concrete development is a new funding structure for an existing lending activity.